15th Steel Development Strategy Conference, host by
SteelHome, was successfully held in International Convention Center
during April 12-14, 2019. Around 1000 delegates from governments,
associations, steel mills, miners, traders, research institutes attended
the one of biggest events in China steel industry.
8th International Raw Materials Supply Chain Summit, 9th Coal
& Coke Development Strategy Conference, 7th China Commodities E-Commerce
Summit and 2019 SteelHome Spring Report were simultaneously held.
On the morning of April 14, Feng Xiazong, Senior Manager of Shanghai
Futures Exchange, made a speech on "Development of Steel Futures".
Feng Xiazong, Senior Manager, Commodity Dept No.1, Shanghai Futures
I Steel Futures Operation and Function
1. Shanghai Futures Exchange strives to build a first-class
international exchange. Take the lead not only in realizing continuous
transaction, but one-way large margin and bonded delivery.
2. Volume of transactions: domestic turnover accounted for 39.7% in
futures was traded actively, the average turnover in recent years is
equivalent to the national rebar output and apparent consumption of
about 30 times.
4. The volume of hot-rolled strip futures has risen steadily since it
went public in 2014, with the average turnover in recent years
equivalent to about four times the country's production and apparent
consumption of hot-rolled sheets in the past few years.
5. Spot, recent month contract and main contract gradually converge.
Contract Amendments in 2018
Revised contents of wire rod futures
Delivery brand re-examination
Wire rod futures transactions and holdings improved
Future follow-up action
Rebar futures revision
Revised contents of hot rolled coil futures
III Opportunities and Challenges of
The insufficient participation of enterprises and the discontinuity of
contracts are the factors that affect the function of steel futures in
recent years. The countermeasures are mainly in several aspects, one is
to seek policy support. The second is industrial training, which is
carried out on a continuous basis. Third, optimize the rule system.
2. Contract for difference, rebar futures and steel index futures should
be timely and step-by-step internationalized.