On February 2, 65438, the CSRC issued a notice, agreeing to Guangzhou Futures Exchange to carry out industrial silicon futures and options trading. Industrial silicon is an important raw material of "silicon energy" industry, which belongs to green and low-carbon varieties. The introduction of industrial silicon futures and options is in line with the positioning of Guangzhou's green development.
Industrial silicon futures and options are the first trading varieties in Guangzhou and the first new energy metal varieties in China. According to relevant sources close to the Guangzhou Stock Exchange, industrial silicon futures are expected to be listed before the end of this year, but the specific listing and trading time still needs to wait for the information released by the CSRC.
Insiders pointed out that the listing of industrial silicon futures will help consolidate the international leading position of China's photovoltaic and other advantageous industries and create new growth engines such as new energy and environmental protection.
The first variety of Guangzhou University was officially announced.
Silicon metal, also known as metallic silicon and crystalline silicon, is obtained by reducing silicon dioxide with carbonaceous reductant in submerged arc furnace. China is the largest producer and consumer of industrial silicon in the world.
In 20021year, China's industrial silicon production capacity was 4.99 million tons, and its output was 32 1 10,000 tons, accounting for 79% and 78% of the global industrial silicon production capacity and output respectively. The consumption of industrial silicon is 3 1.32 million tons (including export), of which the domestic consumption is 2.358 million tons, accounting for 56% of the total global consumption. According to the average annual price of 202 1, the industrial silicon market in China is about 64.4 billion yuan. Under the influence of energy transformation and the goal of "double carbon", it is estimated that the demand for industrial silicon in China will reach 4.8 million tons in 2025, with a market scale of nearly 100 billion yuan.
On February 2, 65438, the CSRC issued a notice, agreeing to Guangzhou Futures Exchange to carry out industrial silicon futures and options trading. The introduction of industrial silicon futures and options is of positive significance for improving the price formation mechanism of industrial silicon, improving the risk management ability of market participants and helping the development of low-carbon economy in China, which is in line with the positioning of Guangzhou Futures Exchange in serving green development.
This also means that the first variety listed and traded in Guangzhou is officially announced, and it is also the first new energy metal variety in China.
The industry believes that the downstream industries of industrial silicon are polysilicon, silicon and aluminum alloy, all of which are sunrise industries with great potential. On the one hand, polysilicon is the main raw material of photovoltaic modules. With the proposal and gradual promotion of China's "double carbon" goal, the photovoltaic industry has ushered in a period of rapid development. It is estimated that by 2025, the industrial silicon consumption in polysilicon field will exceed 6.5438+0.9 million tons, accounting for 465.438+0% of the domestic industrial silicon consumption, making it the largest industrial silicon consumption field.
On the other hand, silicone is the biggest consumer of industrial silicon at present, and will maintain an average annual growth rate of over 65,438+00% in the future. Most silicone materials are similar to petroleum-based materials, such as silicone oil, silica gel and silicone resin. Many silicone materials have better performance and produce less carbon emissions.
"The listing of industrial silicon futures will help consolidate the international leading position of China's advantageous industries such as photovoltaics and create new growth engines such as new energy and environmental protection." The above-mentioned insiders said.
It is expected to be listed and traded at the end of the year.
According to public information, Guangzhou Futures Exchange was established in April 1, 20265438. It is the fifth futures exchange in China. With the aim of serving the green development, the construction of Guangdong-Hong Kong-Macao Greater Bay Area and the "Belt and Road", we will strive to build an innovative, market-oriented and international comprehensive exchange.
On April 9, 2022, on the first anniversary of the opening of the Guangzhou Stock Exchange, official website was officially launched, and the 16 futures products approved for listing by the China Securities Regulatory Commission were fully disclosed for the first time. Including carbon emission rights, electricity and other major strategic varieties related to the basic fields of national economy and energy price reform, innovative varieties such as CSI commodity index, energy and chemical industry, feed breeding and steel mill profits, industrial characteristic varieties closely related to green and low-carbon development such as industrial silicon, polysilicon, lithium, rare earth, platinum and palladium, regional characteristic varieties such as coffee, sorghum and indica rice with Guangdong-Hong Kong-Macao Greater Bay Area and Belt and Road characteristics, and products on the international market.
In June this year, Guangzhou Futures Exchange issued 12 business rules, such as the Measures for the Administration of Trading in Guangzhou Futures Exchange, covering trading hours, market maker qualifications and so on. These Rules shall come into force as of the date of promulgation. Among them, it is clear that the threshold for opening an account for suitable varieties of individuals is 654.38+10,000 yuan, and the qualification management of market makers is implemented according to varieties, and the net assets requirement is not less than 50 million yuan.
With the official release of business rules, Guangzhou Stock Exchange is only one step away from the market.
On June165438+1October1day, 2022, Guangzhou Stock Exchange issued an announcement to solicit opinions on industrial silicon futures and options contracts and related rules, including the main clauses and related parameters of futures and options contracts, relevant provisions of delivery business, etc. And basically determined that the first product will be industrial silicon.
It is understood that there are many factors that affect the price of industrial silicon, and the fluctuation range has expanded in recent years. Not only the supply and demand fundamentals of the industry will have an impact on the price of industrial silicon, but also macro-economy, industrial policies, emergencies and other factors have caused the price fluctuation of industrial silicon to a great extent. From 20 17 to 202 1, the annualized volatility of the spot market price of industrial silicon is 10.3 1%, 5.66%, 5.50%, 7.70% and 49.64% respectively. Faced with the expanding price fluctuation in recent years, many industrial enterprises have increasingly strong demand for listed industrial silicon futures, pricing with futures tools and managing risks.
In this context, the introduction of industrial silicon futures and options in Guangzhou will help alleviate the structural problems faced by the silicon energy industry, stabilize and improve the supply of industrial silicon, promote the asset strength and technical level of industrial silicon production enterprises, and help the healthy development of the industry.
At present, the spot trade of industrial silicon is mainly based on long-term cooperation mode. The listing of futures products will help to improve the trade pricing model, enhance the toughness of the industrial chain, consolidate China's leading position as the world's largest producer, consumer and exporter of industrial silicon, and form the "China" price of industrial silicon in international trade that reflects China's industrial volume.
According to relevant sources close to the Guangzhou Stock Exchange, industrial silicon futures are expected to be listed before the end of this year, but the specific listing and trading time still needs to wait for the information released by the CSRC.
The relevant person in charge of Guangzhou Institute said that in the next step, under the guidance of China Securities Regulatory Commission, Guangzhou Institute will make solid preparations for the listing of industrial silicon futures and options to ensure the smooth launch and steady operation of industrial silicon futures and options.