(2) Deliverables and premiums. The furniture-type medium density fiberboard (length and width: 2.44m× 1.22m) with a thickness of 15mm is determined as the delivery standard, and the furniture-type medium density fiberboard (length and width: 2.44m× 1.22m) with a thickness of 18mm is the delivery substitute. Compared with the standard product 15mm, the water content of 18mm substitute is higher than that of 6 yuan/piece.
In addition, the formaldehyde emission limit grade is one of the important indicators to distinguish product grades and affect product prices. Considering the factors such as the quantity that can be delivered, E 1 is set as the standard formaldehyde emission limit level, and E2 is allowed to participate in the delivery, thus setting a big discount for each 30 yuan.
(3) delivery method and delivery system. Fiberboard futures will be delivered in kind, involving delivery rules, designated delivery warehouse management methods and standard warehouse receipt management methods, covering non-standardized spot and standardized futures conversion rules, futures position delivery settlement and futures commodity warehousing management. From the point of view of adapting to trade, fiberboard futures are delivered in warehouses, and there is no delivery factory warehouse at this stage.
(4) trading unit. The trading unit of fiberboard contract is 500 sheets/lot. According to the current standard fiberboard delivery of about 75 yuan/piece, the contract amount of 1 hand fiberboard is about 37,500 yuan, and the contract scale is relatively small.
(5) Changes in the quotation unit and the lowest price. The quotation unit is RMB/piece, and the minimum contract change price is set at RMB 0.05/piece.
(6) Contract month. The production of fiberboard itself has no obvious seasonal characteristics. Considering that the distribution mode accounts for 70% of fiberboard trade, the remaining 30% of direct sales mode is mostly fixed long-term contracts, and dealers generally have inventory, so there is a need for hedging every month. Fiberboard is mostly transported by car, with short trade radius and no difficulty in delivery convenience. Therefore,1~ 65438+February is determined as the contract month.
Plywood futures contract design instructions. (1) The subject matter of this contract is blockboard. In the year of 20 12, the total output of plywood in China was1400,000 m3, among which the joinery board ranked second, with an output of about 20.34 million m3 (450 million sheets), accounting for 17.85%. Blockboard is used in interior decoration and furniture, which requires high quality, has special national standards and has a good degree of standardization. Therefore, blockboard is regarded as the trading target of plywood futures.
(2) Deliverables and premiums. Thickness is the main index to distinguish blockboard, among which 15mm and 18mm have the largest market scale, accounting for 70% of the total output of blockboard, and the output is about14.2 million m3, with the market scale exceeding 30 billion RMB, of which 15mm is the most representative. Therefore, the blockboard with the thickness of 15mm (length and width: 2.44m× 1.22m) is set as the delivery standard, and the blockboard with the thickness of 18mm (length and width: 2.44m× 1.22m) is set as the delivery substitute. 18mm joinery board needs to use 20% more raw materials than 15mm joinery board, and a premium of 15 yuan/block is set. Set E 1 level as the standard formaldehyde emission limit level, allow E2 level to participate in distribution, and set a big discount for 30 yuan/Zhang.
(3) delivery method and delivery system. Plywood futures will be delivered in kind. The delivery system involved includes delivery rules, designated delivery warehouse management methods and standard warehouse receipt management methods, covering three aspects: non-standardized spot and standardized futures conversion rules, futures position delivery settlement and futures commodities in warehouse management. Therefore, from the perspective of adapting to trade, plywood futures are delivered in warehouses. At this stage, there is no factory warehouse, and brand delivery is not recommended.
(4) trading unit. The transaction unit of plywood contract is 500 sheets/lot. According to the current standard plywood delivery of about 1.25 yuan/piece, the contract value of 1 hand plywood is about 62,500 yuan, and the contract scale is relatively small.
(5) Changes in the quotation unit and the lowest price. In order to be close to the spot trading habit, RMB/piece is used as the quotation unit, and the minimum price change of the contract is set at 0.05 yuan/piece.
(6) Contract month. Plywood production itself has no obvious seasonal characteristics, and most of them are transported by car, with short trade radius and no difficulty in delivery convenience. Therefore,1~ 65438+February is determined as the contract month. (One of the futures knowledge of fiberboard and plywood)