[market change] LPG option debut LPG futures main trading crude oil rose nearly 7%!

SMM3 month 31: although yesterday's LPG futures listing did not significantly boost the market, but today's macro data rebounded sharply coupled with the first day of LPG futures listing. Related goods rose sharply. LPG options for liquefied petroleum gas (LPG) were officially unveiled today (the 31st), with enthusiastic trading in the relevant markets. The main force of liquid fossil oil and gas futures rose by the limit, up nearly 7%. Crude oil rose by more than 6% and fuel by more than 5%.

LPG options rose the next day on the first day of listing. Yesterday, China's first gas energy derivatives LPG futures listed on the Dalian Commodity Exchange, LPG options will also be officially unveiled today (31). Yesterday's closing data showed that a total of more than 8600 clients participated in the first day of trading of LPG futures, trading volume 96400 hands (unilateral, the same below), position 13100 hands. Among them, the main contract volume of PG2011 reached 85100 hands, and the position volume was 10200 hands. Industrial customers actively participate in the transaction, PetroChina International institutions Co., Ltd. won the first order of LPG futures trading.

The domestic economy rebounded obviously, and in March, PMI rebounded from the previous month when it dropped sharply in February. China's official manufacturing PMI52.0 rose 16.3% in March from a month earlier, according to the Bureau of Statistics. As of March 25, among the enterprises surveyed by purchasing managers across the country, the rework rate of large and medium-sized enterprises was 96.6%, an increase of 17.7 percentage points over the results of the survey on February 25, and the order of production and life was steadily restored. Manufacturing PMI, non-manufacturing business activity index and composite PMI output index rebounded in March from February. These data show that the production and operation status of enterprises in March has undergone a significant positive change compared with February.

Price discovery enhances bargaining power, and new risk aversion tools are added to the market. Data show that China is the largest importer and consumer of LPG, and the import volume of LPG was about 20 million tons last year. It is understood that the previous purchase price of China's imported LPG is mainly linked with Saudi Aramco's monthly contract price (CP) and the far East price index (FEI). However, the domestic price uses a fixed price covering the whole month, this rigid pricing causes more exposure risk, and the listing of LPG futures and options provides a powerful hedging tool for enterprises to cope with market changes and avoid the risk of price fluctuations.

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