News

Company News

Your current location£ºHome >> News >> Company News

Plywood and fiberboard futures restart or cold

browse:  date:2014/6/9 9:51:41

After the successful listing of iron ore futures, plywood and fiberboard futures landing DCE has officially entered the countdown, this also means that once again will restart stalled since 1998 suffered the misfortune of plywood futures.
October 22, DCE issued a notice that on fiberboard, plywood and related rules of the contract market parties the contents of the public for suggestions. Draft shows two plates futures contracts traded in board lots of 500 units are the smallest price change was 0.05 yuan each.
Notably, timber makers seem to upcoming futures not cold. Reporter interviewed a number of timber merchants, of which a majority of the people made it clear to reporters, and have had no intention to participate in the futures.
 
"Two board" listed countdown
 
As the domestic futures market to fill the gaps in the plywood industry, "two boards" (plywood and fiberboard) futures, and finally a lot of attention in the outside world, recently unveiled gradually.
Currently, the DCE has announced the "two boards" draft futures contract specifications, according to the draft show that contracts for the month of March 1-12, the last trading day and the delivery date was the 10th trading day of the contract month and the last three trading days after the date of the transaction, and delivery method for the physical delivery. Two plates each futures contract trading instructions largest single number is 1000 hand delivery unit 500.
"Now a fiberboard, the average selling price of between 50-60 million, ranging north and south, so the contract is calculated according to the current design contract is quite reasonable." Www timber analyst Zhang Xuesong told reporters.
And with "two board" listed gradually approaching footsteps, is caught in large losses for the entire industry.
"From the use of perspective, 'two plates' are used in homes, flooring, construction and other industries, but the property market in recent years by the impact of tightening control policies, the two plates of the stock market was seriously affected last year, there will be nearly the whole industry to 90% of the state's business at a loss. "Zhang Xuesong said.
It is understood that a large-Wood Suifenhe production line since the date of production, they continued losses, a loss last year, more than 9,000 yuan. The gross profit margin Weihua shares of MDF in 2012 and 2011 was basically unchanged at 6% -7%, while raw material prices in 2012 rose more than 10% of the company's 2012 annual loss of 106 million yuan.
There are manufacturers told reporters that since New Year's Day after a miscarriage can be part of fiberboard factory after another holiday, one end of the country all the basic holiday fiberboard manufacturers, most manufacturers will start after the Lantern Festival, the manufacturers discontinued for at least 25 days, individual manufacturers Stop Time for up to two months.
In addition, this year's "two boards" export situation is also facing a serious decline. "In past years 'two plates' are mainly exported to Europe, accounting for almost half, but before the U.S. against China launched anti-dumping investigations hardwood, causing a tremendous impact on exports this year, almost no plywood exports to the U.S.." Zhang Xuesong introduction.
April 30 this year, the U.S. Department of Commerce determined that China exports to the U.S. and decorative hardwood plywood dumping exists, dumping margin of 0.62 to 63.96 percent. Therefore, the U.S. Department of Commerce intends to 101 Chinese enterprises such products 22.14 percent levy anti-dumping duties on other Chinese producers and exporters, intends to impose anti-dumping duty of 63.96%.
Indeed, the whole question of "two boards" market is facing far more than these, overcapacity same ills plaguing the industry, and this problem is particularly evident in the fiberboard reflected.
Statistics show that since 2000, due to the support of national tax policy, China's rapid development fiberboard industry. There are currently fiberboard production line of 750, 2012 National fibreboard production reached 55.54 million cubic meters, nearly 10 years the average growth rate of around 22%, which accounted for about 80% of the capacity of fiber with wooden furniture, with an average growth rate of nearly ten years only There are 12.39%, apparently to keep up with the growth rate of domestic fiber industry.
On the other hand, although the market has been eliminated fiberboard Figure miscarriage ability to control the phenomenon of excess capacity, but because of the continuous press line around on the production of new capacity has reached 200,000 cubic meters, while the elimination of abortion can usually 30,000 cubic rice production line, resulting in a greater production capacity is far out of production.
 
Futures suspected cold
 
Although the "two boards" futures coming soon, to a certain positive plywood market, but after a number of reporters and timber merchants exchange found that these insiders seem to be "two boards" futures are not very cold.
"After the 'two boards' futures market, the industry in the current environment is not good, the impact on the spot price is hard to say." Timber trader who asked not to be named, told reporters, "on the other hand, the entire industry function in the futures, not many people understand, everyone involved in the heat of the futures is not very high. "
"The whole of the futures industry, not many people understand, unable to mobilize their active participation, on the other hand, a lot of the wood's scale is not large, the demand in this area is not very strong." Zhang Xuesong told reporters.
And the said timber merchants more to tell reporters, we now do not participate in futures, but also, and in the 1990s plywood futures shut down about some timber merchants want to participate because of concerns about the futures of history repeating itself and stalled.
It is understood that in the mid-1990s, plywood futures commodity exchanges in Shanghai, Suzhou and commodity exchange operation more successful, attracting a lot of money entering the hype. At that time also coincides with the government bond futures was halted after a lot of speculation in the market capital flows to the plywood futures.
With the increasing number of capital inflows, then plywood contract prices have also gone up, the contract price from 40 yuan / Zhang was stir to 60 yuan / Zhang above, almost every delivery month will have varying degrees of the Corner, where 9607 at the time the contract is to become the main battlefield of struggle long and short sides, plywood market uncertainties attendant piled up, and finally had to take measures to control the exchange risk.
June 13, 1996, the exchange stopped trading 9607 contracts, implementation of the agreement positions and 9607 contracts ahead of delisting, and does not implement physical delivery. 9607 contracts in accordance with the bears to 44.20 yuan / Zhang, according to 45.00 yuan bulls / Zhang implementation of mandatory price agreement positions, which spreads risk of gold trading by the Exchange in complement. And this impact, plywood futures market slump, to completely shut down in 1998.
"Fears futures market speculation is that each species common issues of concern, but for now plywood industry, due to the situation in the doldrums for financial speculation already more serious concerns, plus there's a lesson before, many participants who are more conservative attitude is also very normal. "an industry source told reporters.
But it is worth noting that the draft contract specifications released from the point of view, it seems that 15 years after the DCE restart plywood futures is very cautious in setting the contract specifications and the delivery of the subject matter selected on both a fundamental Changes

Home | About Us | News | Product | Honor | Message | Contact Us

TEL:+86-539-8171589 FAX:+86-539-8171539 Address:room 1001.unit2,jinyang building,jinqueshan road,lanshan district, linyi city,shandong province,china

Copyright©LINYI ZHONGTAI IMPORT AND EXPORT CO., LTD Copyright 2014 All rights reserved