He suggested that when companies use options to cover insurance, they can work with a number of professional institutions to give full play to options or derivative functions. Huatai Futures | ' OTC

June 27, jointly sponsored by Dalian Commodity Exchange, China Petroleum and Chemical Industry Federation and China Light Industry Federation, ' 2018 (11th session) China Plastics Industry Congress ' was held at Huanglong Hotel in Hangzhou.

With the support of large business, Huatai futures of this Congress successfully held the forum of "OTC options and plastic industry innovation and Development" on June 26 afternoon.

Global production capacity of polyolefin has exceeded 170 million tons/year In this forum speech link, the National ' 973 ' plan thermoplastic elasticity problem Project chief scientist Professor Liebe introduced new technology and new products for polyolefin industry.

Among them, he mentioned that global polyolefin production capacity of more than 170 million tons/year, accounting for more than half of all polymers, why the polyolefin will take up so much? First, the energy consumption of polyolefin production is the lowest; second, there is a lot of room to improve the performance.

He said China's limited plastic is a misunderstanding, the United States after the 20 industrial future, which is written to have a polymer, to have plastic to replace glass, paper, if the reverse generation, it would be bad.

PE imports in the second half of the year may become the biggest uncertainty PetroChina East China Chemical Sales Branch Information Department deputy manager Xu Yan to China's plastic market analysis and prospects. He said PE imports could become the biggest uncertainty of the year. Overall see 18 years of supply pressure is not big, the conflict between supply and demand is not prominent throughout the year, but the second half of the slowdown and imports of goods increased concern (the uncertainty of the Sino-US trade war), more than 09 of the willingness to fund a low, seems to be the consensus of the market, downstream factories and traders to the market is also relatively cautious The possibility of restocking is relatively small, the annual market appears to be more likely to loose supply. The 2-quarter overhaul is relatively concentrated and the market is in the inventory phase. 3, 4 Quarter overhaul, the market to inventory pressure than the first half of the larger, but the demand for the year, the second half is better than the first half of the. 7, August, the situation of the database, is the second half of the market to determine where the bottom of the key factors.

The 4 Quarter is the annual demand season, the price of the bottom is expected to slightly uplift.

Chinese crude oil futures are far ahead Zhuo Chong Information senior analyst Zhang Xiujuan that China's crude oil futures from the transaction situation, the daily volume, although gradually increased, but compared with the European and American crude oil volume smaller. Since the transaction, the overall position has stepped up, but compared with the European and American Futures, as the Asian crude oil futures, China's current total position of crude oil futures or Brent futures total position of less than 1%, showing the market participants in a short period of time to hold the normal.

From these two aspects, the Chinese version of crude oil futures ahead of the road, chasing the two major oil futures in Europe and the United States, a long way. Crude oil is one of the main raw materials of polyolefin products, which occupies a major place for a long time, but with the acceleration of the diversification process, crude oil is not the only source of Polyolefin products, and the market share is declining every year.

She thinks the impact on plastics is not at present, but in the long run, the size of the impact depends largely on the size of Chinese crude oil futures, pricing the Chinese crude oil, and the size of the price control.

Option-assisted plasticizing Enterprise risk Management Tang, deputy general manager of Huatai Great Wall Capital Management Co., Ltd. introduced how to help plastic enterprise risk management through options. He pointed out that the option as a non-linear profit and loss, the middle with the choice of different structures, can be in the risk of the angle, or the profit and loss of the flow above probably a comprehensive choice, it is a more flexible, can be in the risk and benefit of effective combination of the strategy of the highest use efficiency, because the margin system,

Therefore, option trading can achieve better capital use efficiency. He cited an example of ' suppose to do copper futures hedging, the current futures contract price of 50000 yuan/ton, the target rose to 53000 yuan/ton. If you do long on the futures, you need to occupy about 10% margin. If the target price rises to 53000 yuan/ton, the transaction profits 3000 Yuan/ton, the Fund utilization efficiency is 60%. If the purchase of the right gold 900 yuan of the flat-value call option, the same profit of 3000 yuan, the use of capital efficiency and higher profit margins.

' Although the option itself is a tool that has a lot of flexibility and operability, if you don't have a clearer idea of the risk point, it could hurt you in turn.

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