Adjust Tianjin Library

There are three rules for rebar futures trading, namely, canceling the provision of Tianjin warehouse delivery discount130; The production date of each batch of warehouse receipts was extended from the previous 2 days to 10 days; Rebar futures exchange margin will be lowered. The contracts involved are mainly the first trading day of the delivery month and the two trading days before the last trading day. The reduction ratio was adjusted from 20% and 30% in the previous period to 15% and 20% respectively. Among them, the adjustment of Tianjin Library is the first time. The adjustment of Tianjin warehouse is of great significance.

The threshold for capital to enter futures is lowered.

Modification rules of rebar futures trading rules. From the PMI index released before, it is not difficult to see that the steel industry, as the vane of manufacturing industry, has suffered losses in the whole industry, with losses reaching about 654.38+0 billion yuan. The loss of the steel industry has also brought about the crisis of downstream steel traders, who were originally in a state of infinite scenery and fell into the dilemma of overstocked inventory and tight funds.

The survey results show that the steel industry as a whole is in a state of loss, and both traders and steel mills regard futures steel as a means of maintaining value and making profits. After the adjustment, the threshold for funds to enter futures is lowered, and more funds can be sucked into the reservoir of futures.

Necessary conditions for rule adjustment

Large steel mills do futures more or less, especially first-line steel mills. The main contract of rebar futures expires in 13 1, May and September. Judging from the previous adjustment time window of the exchange, the cancellation of Tianjin warehouse discount needs to be implemented from the new contract, and the earliest effective date is expected to be 20 14 1 month contract; The latter two items will be implemented before the two sessions at the earliest.

According to the current domestic rebar price trend, the rebar price in the north is not much lower than that in Shanghai, and in many cases the rebar price in the north is even higher than that in Shanghai. So at this time, it is conditional to cancel the discount of Tianjin warehouse and adjust the relevant rules.