Japan's Central Commodity Exchange only aimed at the pricing power of scrap steel, and launched the scrap steel futures contract in 2005. Therefore, the international pricing center of steel has not yet formed. Starting from 200 1, Shanghai Futures Exchange began to conduct market research on rebar and wire rod. The person in charge has said many times recently that he has prepared for the listing of steel futures and completed the design of futures contracts and the formulation of trading rules. A few days ago, China Iron and Steel Industry Association and Beijing, where the previous issue was held, jointly held a symposium on steel futures listing. Leaders of Baosteel, Angang, Shougang and Maanshan Iron and Steel Co., Ltd. 1 1 steel enterprises attended the forum. According to the minutes of the meeting issued by the Steel Association to steel-related enterprises after the meeting, the basis and conditions for the listing of ordinary wire rod and rebar futures in China have been met, and the listing of steel futures is in line with the development of China's market economy and derivatives market.
The minutes of the meeting pointed out that the China futures market has entered a stage of standardized development. With the introduction of steel futures, steel production, circulation and consumption enterprises can use the futures market to discover the price and hedging mechanism, form an open and fair pricing mechanism, avoid risks and promote the healthy development of the steel market.