SMM: at 9: 00 a.m. on September 22nd, 2020, the standard warehouse receipt trading of ferrous metal varieties and the quotation zone of Euro Metallurgical Cloud Merchants were successfully launched in the last phase of the standard warehouse receipt trading platform.
Liu Min, Deputy Director of Shanghai Commerce Commission, Tao Changsheng, Chief Economist of Shanghai Local Financial Supervision Administration (Financial work Bureau), Jiang Yan, Chairman of Shanghai Local Financial Supervision Bureau, Zhao Changxu, Chairman of China Baowu Group OYE Cloud Merchants, China (Shanghai) Free Trade pilot Zone Management Committee, China (Shanghai) Free Trade pilot Zone Lingang New Zone Management Committee and other related departments attended the launching ceremony. Wang Fenghai, general manager of the last stock exchange, presided over the launching ceremony.
Jiang Yan said that the online ferrous metal varieties and the Euro smelter Cloud Business quotation Zone are a beneficial attempt to implement the spirit of the 19th CPC National Congress and promote the formation of a domestic and international cycle; it is also a positive exploration to enhance the real economic capacity of financial services and enrich supply-side financial supply tools in the previous period. China is the largest producer and consumer of ferrous metal in the world, ferrous metal futures is the star variety of Shanghai Stock Exchange, rebar futures have become the largest commodity futures in the world for five consecutive years, and hot-rolled coil futures are the largest flat wood futures in the world. Today, ferrous metal varieties and European smelter quotation zone online to promote the development of the platform to a new level. The launch of ferrous metal varieties indicates that the standard warehouse receipt trading platform of the previous period extends to the ferrous metal industry, which will be a useful supplement to the existing ferrous metal futures in the previous period. it will better meet the diversified and personalized risk management needs of enterprises related to the ferrous metal industry, and help enterprises return to work, improve quality and increase efficiency, and speed up the adjustment of the industrial structure. The launch of the OYE cloud quotation zone will further deepen the strategic cooperation between the Shanghai Stock Exchange and Baowu Group, jointly create an integrated service platform for the black industry chain, and help to extend the platform's ability to serve the ferrous metal industry and the real economy.
Jiang Yan stressed that the Shanghai Stock Exchange will, with a high sense of political responsibility and mission, in accordance with the long-term goal of "building a world-class exchange", take meeting the needs of physical enterprises as the starting point, give better play to the function of the platform to serve the real economy, realize the interconnection between futures and spot, on-site and off-site, online and offline, and between domestic and overseas, so as to build a world-class commodity trading platform. We will strive to create a service platform for the whole commodity industry chain and serve both domestic and international circulation.
In his speech, Liu Min said that Shanghai is one of the cities with the most complete factor markets and plays a pivotal role in global commodity trade. This time, the cooperation between Baowu of China and the Shanghai Futures Exchange is not only a "combination of strength" for both sides to give full play to their own advantages and jointly build a multi-level commodity trading market, but also an important embodiment of the in-depth implementation of the specific requirements of the CPC Central Committee in promoting the construction of a modern circulation system, and the construction of a new development pattern with domestic and international circulation as the main body and domestic and international cycles promote each other. The launch of the OYE cloud quotation zone will play a core role in the allocation of market resources, expand the space for market growth, and lay the foundation for Shanghai to build a trillion-and trillion-level trading market facing domestic and international markets.
Tao Changsheng said that at present, the construction of the Shanghai International Financial Center is in a critical period to enhance its function and competitiveness, in which the Shanghai Futures Exchange and the previous standard warehouse receipt trading platform have played an important role. Especially during the epidemic period, the last phase of the standard warehouse receipt trading platform has achieved remarkable results in helping enterprises to resume work and production, and a large number of typical cases of standard warehouse receipt trading services for the development of the real economy have emerged. The launch of new varieties and new businesses is conducive to the formation of domestic and international cycles, and is of great significance to the construction of Shanghai's international financial center and free trade zone.
Zhao Changxu said in his speech that the launch of the cloud quotation zone of Euro smelter is a major breakthrough in the field of ferrous metals and is of vital significance to the country's construction of a modern circulation system of the iron and steel industry and the promotion of supply-side structural reform. Through the quotation zone, the existing biosphere resources and services of Euro Metallurgy can more easily serve the trading customers of the Shanghai Stock Exchange, and both sides can provide multi-dimensional support for the industry from the industrial side, thus forming a unique linkage market on and off the sideline. fill the market gap in the field of current linkage in the ferrous metal period.
After the launch ceremony, the institute also held a symposium on the combination of ferrous metal period and present, and widely listened to the suggestions of the industry. From Angang and other enterprises, traders such as Hangzhou Heat Union, Xiamen International Trade, Shanghai Shanshan, Sinosteel Investment, Steel House, Cargill and other foreign traders, from risk management subsidiaries of futures companies such as Dongzheng Runhe, Guangzhou Capital, Xinhu Ruifeng, Dongzheng Runhe, Hongyuan Hengli, CITIC Global, Yongan Ruimeng, etc., and from designated delivery warehouses such as Wuxi and Huilong Port of China Reserve. More than 40 guests from Bank of Communications, United overseas Bank, Pudong Development Bank and other commercial banks attended the discussion.
By the close of September 22, 2020, 54 ferrous metal products, including platform rebar, wire rod, hot rolled coil and stainless steel, had 54 transactions, 85 warehouse receipts, 13273.14 tons and a turnover of 81.3163 million yuan. Ouye Yunshang quotation area rebar, wire rod, hot rolling, stainless steel four black varieties of hanging resources of 4908 tons, mainly distributed in East China, Central China and South China. Among them, 3101 tons of rebar, 100 tons of wire rod, 1414 tons of hot rolled coil, 293 tons of stainless steel.