For the listing of pulp futures

On November 27th, pulp futures were listed and traded on the Shanghai Futures Exchange (hereinafter referred to as “the last period”). On the same day, there were 6 contracts in the pulp futures, namely SP1906, SP1907, SP1908, SP1909, SP1910 and SP1911. The benchmark price of the contract is 5980 yuan / ton.

Pulp futures is the 50th commodity futures in China's futures market, and its voice has been long-awaited, and its “birth” has naturally attracted much attention.

Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said at the listing ceremony that the establishment of China's pulp futures market will objectively reflect the changes in supply and demand in China's and global pulp markets, help the implementation of national forest protection policies and environmental protection policies, and enhance the international impact of pulp and paper products in China. The power of power and discourse is of great significance to guide the steady and healthy development of the paper industry.

At the same time, pulp futures also provide hedging tools for related production, consumption and trading enterprises to help enterprises stabilize production, guarantee returns and improve competitiveness.

Jiang Yan, chairman of the Board of Directors of the previous period, further stated that the listing of pulp futures is conducive to forming a price system that reflects the supply and demand relationship between China and the global pulp market, providing effective risk management tools for entities and supporting the steady and healthy development of the paper industry.

For the listing of pulp futures, the relevant parties in the paper industry have also highly praised them. Jia Zhiren, vice president of the China National Light Industry Association, said that the launch of pulp futures is undoubtedly a major positive for the Chinese paper industry. Zhao Wei, chairman of the China Paper Association, also believes that the listing of pulp futures is very important for how the paper industry finds prices through the market and how to control costs.