The world's first synthetic rubber futures and options were listed for trading in Shanghai, with a first-day transaction of 4.95 billion yuan in rubber | futures | synthetic
The world's first synthetic rubber futures and options were listed for trading in Shanghai, and China's futures and derivatives market system continues to improve. On July 28th, as the first futures and options variety to be simultaneously listed on the Shanghai Futures Exchange, synthetic rubber futures with butadiene rubber as the underlying commodity were listed at 9:00 am, and synthetic rubber options were listed at 9:00 am on the same day.
The first batch of synthetic rubber futures was listed for trading, with a total of 7 contracts listed at a benchmark price of 9990 yuan/ton. On that day, the opening price of the main BR2401 contract was 10750 yuan/ton, and the closing price was 10755 yuan/ton, an increase of 765 yuan/ton from the listed benchmark price, or 7.66%. A total of 92400 transactions were made throughout the day, with a transaction amount of 4.95 billion yuan and a position of 20900.
Synthetic rubber, along with synthetic resin and synthetic fiber, are listed as the three major synthetic materials and play an extremely important role in the national economy. They complement and coordinate with natural rubber, forming the basic raw materials for the rubber processing industry. As the world's largest producer, consumer, and importer of synthetic rubber, China's tire production also ranks first in the world, and there is a strong demand for risk management among upstream and downstream enterprises in the industrial chain. Tian Xiangyang, Chairman of the Shanghai Futures Exchange, stated that listing synthetic rubber futures and options will help improve market-oriented pricing mechanisms and assist in the transformation and upgrading of the rubber and tire industry through market-oriented means; Helping to fill the pricing gap in the international synthetic rubber and even butadiene industry chain, enhancing China's international trade bargaining power, and enhancing the influence of "Chinese prices"; Helping to further enrich the risk management tools of the rubber industry chain, enterprises can flexibly use futures and options combination strategies according to market changes and their own needs, tying a "safety belt" for stable operations.