PVC Futures trading 4.75 billion yuan on the first day of the price trend or sawtooth-like

25th, the appearance of Dalian PVC futures performance, 4.75 billion yuan turnover shows a large variety demeanor, but the reality of supply and demand contradictions exist, PVC futures price or will appear serrated trend. The spot trend affects the period price Dalian Commodity Exchange provides the data to show, the PVC futures listed the first day deals 4,753,851,000 yuan, the turnover is 146284 hands, after the disk position reaches 23824 hands. From the main 909 contract performance look, its listing benchmark price of 6300 yuan/ton, opening 6575 yuan/ton, the open range of more than 4%, then rushed to 6630 yuan/ton, but then shock lower, and finally closed at 6490 yuan/ton, rose 190 yuan/ton, the whole day sold 107764 hands,　　The positions are 12278 hands. For the future, there is analysis that the demand season and the rise of crude oil prices are not strong, because the global macroeconomic trend is still relatively depressed, China's plastic products export pressure is very heavy, even if the domestic economic performance slightly strong, the domestic supply of PVC is still showing excess pattern, which makes the peak season of the pull and international PVC products have poured into the domestic market, but also increased the supply pressure, the future price difficult to have too good performance.　　At present, Dalian PVC Futures 909 contract than Guangdong Plastic Exchange main 909 contract is still high about 135 yuan, the remaining trading time this week, the price of PVC futures or tend to shock weak. Chlor-Alkali Chemical Industry (600618) general manager Li June believes that the PVC spot price will appear sawtooth trend, once the price touches 6500 yuan/ton, the enterprise will start, the supply picks up suppresses the price to be lower, when falls to the enterprise production cost line, the production reduction will push the high price again.　　He expects futures prices to follow this trend. Trading opportunities still have investment value according to the introduction, the current domestic PVC production enterprises have 143, of which 21 are listed companies in Shanghai and Shenzhen Stock Exchange. According to the General Administration of Customs Statistics, 2007 China engaged in PVC import and export business enterprises about nearly thousands.　　The statistics provided by the China Plastics Processing Association also show that as of the end of 2006, there are 1097 PVC processing enterprises. Analysts say the futures market provides a convenient way for companies to circumvent and transfer price risks. In the face of the price of the rise and fall, a sharp decline, PVC, downstream of the vast number of enterprises have a strong hedging needs, these potential participants not only for the PVC futures to tamp the customer base, but also to the price of PVC futures varieties of the process more convenient and rational, trading more active and smooth,　　More to meet the requirements of rational investors.　　Industry experts said that the value of PVC investment, including through carry trade to obtain stable income, through hedging stable operation, as well as coal and crude oil "thermometer", related commodity prices telescope, and thus to the relevant industries to bring considerable value-added benefits. The experts said that, in arbitrage, can be through the period of arbitrage, to obtain the expected risk-free return, through the arbitrage, to low risk to obtain relatively stable income; can be carried across varieties arbitrage,Looking for profit opportunities in related chemicals, or through arbitrage across markets to expand profit margins.　　Hedging, production enterprises can lock profits, steady expansion, trade enterprises can be combined, stable operation, consumer enterprises can lock costs, to ensure production. In addition, electricity, coal and other fields have no futures varieties, but the relevant enterprises can through long-term price laws of analysis, find these products and the price coefficient between PVC, so as to transiting PVC futures hedging operations to provide a basis. Taking coal and crude oil for example, if the PVC price of the Pearl River Delta region between January 2007 and July 2008 is compared with that of London North Sea Brent crude oil price and Qinhuangdao power coal price respectively, it can be found that the correlation coefficient between the price of PVC and the two raw materials reaches 0.75 and 0.70 respectively. This economic behavior, known as alternative hedging, is now widely used in the industry.