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World each country contends for authority of steely futures speech
From;    Author:Stand originally

After 2001, grow quickly as world economy, steel price wave motion is more frequent, average and annual amplitude is in 30% the left and right sides, especially 2008 since first half of the year, rise continuously as price of iron ore, coke, domestic steel price rises compared to the same period 30.9% , grow material to rise among them 51.4% , plank rises 24.7% . Steel price wave motion makes manufacturing business, agency and consumer are facing huge price risk momently.

Having such characteristic because of rolled steel, in recent years, a lot of countries roll out rolled steel futures in succession, for merchandise on hand management unit provides the tool of evasive price risk.

In March 2004, india a variety of Commodity Exchanges (MCX) rolled out the whole world futures of the first rolled steel. On October 11, 2005, japanese mid Commodity Exchange (the contract of futures of scrap iron and steel that C-COM) announces to be developed by its gets province of Japanese economy industry and aricultural aquatic product save formal approval, appeared on the market formally on October 11, 2005 trade, this is the whole world contract of futures of the first scrap iron and steel. A couplet chief of a tribe enlighten do obeisance to gold and Commodity Exchange (DGCX) rolled out whorl steel futures in October 2007. This year on April 28, exchange of London metal futures rolls out rolled steel futures formally, cent is mediterranean and far east contract of futures of billet of two ground complete a business transaction. Exchange of futures of commerce of the closest new York (NYMEX) announces, this bourse plans 2008 the four seasons is spent some earlier moment is rolled out be based on steel of hot-rolling of American center-west region to coil the futures contract of market price.

But, those who make us very awkward is, although our country is big country of production of a rolled steel and consumption, our crude steel crop occupies the 1/3 above that global crude steel produces, and after breaking through 100 million tons from steely 1996 crop, had ranked world front row ten years continuously, but up to now, we still did not roll out rolled steel futures to trade, the speech authority of steely futures price wants helplessly by fall his country.

Be produced as the rolled steel on the international market and consume big country, allow to master speech of rolled steel futures to counterpoise by his country macroscopical to our country economy and the adverse effect that the company grows are self-evident. Above all, because lack the method that keep a cost, the n venture that a lot of steely companies of domestic want to assume the price to fluctuate; Next, abroad travels together or the nose that through operating price of rolled steel futures is involving domestic company takes fund, produce adverse effect to our country relevant enterprise thereby; Finally, in rolled steel speech authority accuses setting to fall by his state control, domestic company still should tread again " buy by ceiling price when the entrance, sell by floor price when exit " the track of an overturned cart, the pecuniary loss that makes incur of enterprise of domestic merchandise on hand not due thereby.
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