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World's First Glass Future Contract is Listed
Source :    Release time:2013-04-22

At 9 o'clock on December 3,2012,the first glass future contract in the world was listed for public trading at Zhengzhou Commodity Exchange. In China, the contract is the first future which totally depends on factory delivery. Many innovations are adopted during the design and research of the integral contract system. The first listed future is significant to the development of glass industry and the construction of its market system.

Mr. Wu Keli, Vice General Manager of Zhengzhou Commodity Exchange says on the listing ceremony that, to start public trading of glass futures, may formulate representative estimated price of glass. Manufacturers may determine the scale of production accordingly so as to avoid blind expansion of capacity based on current price. It is helpful to further balance the supply and demand in the market. Relevant enterprises may stabilize cost and profit by hedging, and mitigate the risk aroused by price fluctuation. In this way, price fluctuation will be restricted in a reasonable range and severe fluctuation may be controlled. On the other hand, based on the delivery standard of glass futures, glass industry may adapt to national requirements on industrial reconstruction and environment protection. It is beneficial to eliminate the backward production capacity and improve the concentration ratio of production and efficiency of factors configuration so as to increase the ratio of high-quality products and advance the integral quality and market competitiveness of Chinese glass industry.

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