Industry experts said that due to the more complex and severe external environment, the overall effective demand for steel is weak, resulting in greater pressure on the industry transformation and upgrading, and the difficulty in improving economic efficiency. However, with the iron and steel industry chain futures varieties continue to enrich, will further help the industry risk management.

Shi hongwei, director of the metallurgical industry economic development research center, said in his speech that the steel industry is an important pillar industry of the national economy, providing a large number of materials for China's infrastructure construction, but also a traditional industry. The steel industry needs transformation and upgrading, which includes not only the upgrading of environmental protection, equipment and product quality, but also the upgrading of the steel industry ecosystem. The combination of industry and finance is an important part of the upgrading of the steel industry. Therefore, it is necessary to promote the combination of industry and finance and accelerate the innovation of the combination of industry and finance.

China steel industry association, deputy director of the financial assets DiaoLi pointed out that this year China's iron and steel industry overall smooth operation, crude steel production growth, import and export are decreased, steel prices fluctuate narrowly, fixed asset investment growth, energy conservation and emissions reduction index continues to improve, but at the same time facing declining capacity release faster, enterprise benefit is obvious and environmental pressure, etc. Looking forward to 2020, the external environment is becoming more complex and severe, the overall effective demand for steel is weak, and the transformation and upgrading of the steel industry is under great pressure. The prices of iron ore, scrap steel and coal and coke, as well as the environmental protection operation and logistics costs, will remain high, making it difficult to improve the economic benefits of the steel industry.

Cheng weidong, director of the industrial development department of dasiang, pointed out that the risk of commodity price fluctuations exists objectively. With the development of China's futures market, the role of derivatives in risk management is becoming more and more obvious, and the high-quality development of the economy needs derivatives market. The price discovery and risk management functions of the derivatives market can not only reduce the uncertainty in the production and operation of enterprises, but also help to improve the allocation efficiency of resources.

He said, after nearly 30 years development in China, the varieties of derivatives market system is increasingly perfect, derivatives market is steadily growing, the derivatives market influence in improving gradually, the derivatives market function, provide ample liquidity to markets, promote trade and reform the ways of domestic listed companies involved in the derivatives market enthusiasm are also rising. For the iron and steel industry, has been listed rebar, iron ore, ferrosilicon, ferromanganese, stainless steel and other 10 varieties, scrap steel, soldering iron and other varieties are also actively planning, iron ore option listing pace is getting closer and closer.

Cheng weidong said that dachang has always been committed to serving the real economy and the national strategy, and has done a lot of business in the service industry in the field of commodity derivatives. Carry out industrial service innovation pilot projects to provide enterprises with direct off-site business practice opportunities; The establishment of Commodity Exchange and basis trading platform; In the future, dachang will continue to enrich the futures option variety system and strengthen the construction of new tools and new varieties. We hope that steel enterprises will actively embrace the derivatives market and suggest doing a good job in the following aspects: first, pay attention to compliance risks and comply with regulatory provisions and relevant requirements; Second, adhere to the logic of hedging, participate in the derivatives market to be clear, is to hedge risk rather than speculation; Third, we need to improve the organizational system, institutions and rules, establish a complete set of research, decision-making and implementation processes, form a linkage mechanism, and cultivate a risk management culture. Fourth, strictly control the risk, establish the risk control system, and strictly implement; Fifth, pay attention to the talent training, improve the training system, establish incentive mechanism; Sixth, the integration of "business and finance" should be done well, and the activities and performance of enterprises using derivatives to avoid risks should be reasonably reflected in the financial statements.

Li guangfei, deputy general manager of chinalco group international trade co., LTD., also stressed that risk management is very important for the long-term stable and sustainable development of an enterprise.

 

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