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Sinochem News Network reported on June 21 that low-sulfur fuel oil futures were officially listed for trading at the Shanghai International Energy Exchange (referred to as the previous energy) for the anniversary
.
As of that day, the total trading volume of low-sulfur fuel oil futures reached 18.
The correlation coefficients between futures prices, Singapore paper goods quotations and Shanghai crude oil futures prices reached 0.
99 and 0.
98 respectively, maintaining close linkage with spot market price trends and international energy price trends, and the function of price vane gradually emerged
.
Customers in shipping and ship-fuel-related industries actively use the hedging function for risk management and inventory management.
Market participants believe that the steady operation of low-sulfur fuel oil futures has received extensive attention from domestic and foreign industrial customers.
Manufacturers, ship suppliers, and shipowners and other in-depth participants in the industrial chain are all aware of the price discovery function of low-sulfur fuel oil futures.
Give positive comments on price effectiveness
.
Some companies have taken low-sulfur fuel oil futures prices as part of the reference factor in the negotiation and signing of spot trade contracts
It is understood that the previous period of Energy has jointly launched the "China Zhoushan Bonded Low Sulfur Fuel Oil Tanker Supply Price" in conjunction with the Zhejiang International Oil and Gas Trading Center
.
The quotation is released in the form of premiums and discounts on the daily settlement price of low-sulfur fuel oil futures.
The relevant person in charge of China Petroleum International Business Co.
, Ltd.
stated that the listing of low-sulfur fuel oil futures provides a new pricing benchmark for China’s bonded low-sulfur marine fuel market and provides strong support for enhancing the competitiveness of China’s marine fuel oil in the international market.
Futures and low-sulfur fuel oil futures provide spot traders and manufacturers with a full range of risk management and future trading possibilities in terms of pricing reference, physical delivery, and spot value hedging risks.
At the same time, it also enhances the Chinese marine fuel market.
International influence
.
The relevant person in charge of Sinopec Fuel Oil Sales Co.
, Ltd.
said that since the "first year of low-sulfur", China's marine fuel supply market has further released its capacity potential and development vitality.
In 2020, the total market will grow strongly by 36% against the trend
.
The person in charge of the energy of the previous period stated that the energy of the previous period will maintain full communication with various investors in the market, and continue to improve and optimize the relevant rules and rules of low-sulfur fuel oil futures in light of the actual situation
.
First, optimize the delivery warehouse layout, to conform to spot trade flows habits, the delivery warehouse to expand the coverage area of Shandong Province; to meet the storage needs of industrial customers, an increase of Yangshan Port of Shanghai Petroleum Storage and Transportation Co.
At the same time, it will steadily promote the function of low-sulfur fuel oil futures, further open up to the outside world, promote the effectiveness of futures prices, and enhance the ability to serve the real economy; expand the scope of cross-border settlement radiation, improve the quality of futures services to the real economy, and consolidate low-sulfur The basis for the two-way opening up of fuel oil futures to the outside world; continue to improve the rules and systems, make fine-tuned and better varieties; strengthen international cooperation, and enhance the international reputation of the brand
