(1) The commodity prices for selling hedging operations are in a downward trend, and commodity suppliers suffer from the decline in product sales prices, which often leads to the phenomenon that raw materials purchased by contract are upside down with the future market sales prices, resulting in operating losses. At this point, enterprises can sell hedging operations in Bohai Commodity Exchange. For example, after signing a contract to import raw materials from abroad, a commodity trader sells an electronic contract on the Bohai Commodity Exchange, locking the sales price of the commodity. Today, when commodity prices fall, they are sold to other demanders, and the sales price is still fixed at the original level, and the expected profit is obtained.
(2) The commodity price of hedging operation rises, and the processing enterprises suffer from the rising price of raw materials. It often happens that the sales price of finished products with signed contracts is upside down with the purchase price of future raw materials, resulting in operating losses. At this time, enterprises can buy and hedge in Bohai Commodity Exchange. For example, after a production enterprise signs a sales contract, it purchases an electronic contract on the Bohai Commodity Exchange to lock in the cost of raw materials. When the commodity price rises, apply for physical delivery in Bohai Commodity Exchange, or hedge by transferring electronic contracts and buy the spot from other spot merchants. The procurement cost is still fixed at the original level and the expected profit is obtained. The price difference of bulk commodities in different varieties and markets will remain reasonable (considering freight, insurance, storage fees, capital interest, risk status, liquidity, etc.). When the commodity price deviates from the normal level, traders can obtain stable profits by buying low and selling high, while locking in risks.
(1) Arbitrage the same commodity across domestic markets and list it in different domestic markets. Under normal circumstances, commodity prices in different markets are basically the same or there is a reasonable price difference. When the price difference of the same commodity in different markets deviates from the normal level, traders can buy and sell in two markets at the same time. After a period of time, when the spread narrows, traders will carry out the reverse operation of selling and buying in two markets respectively to achieve the purpose of arbitrage.
(2) Cross-international market arbitrage refers to the distortion caused by the exchange rate, time difference and short-term spot supply and demand in different markets when the price difference of the same commodity deviates from the normal level in different international markets.
(3) Cross-species arbitrage is similar in use or substitutability, some commodities are relatively related, and their price trends are related to a certain extent, so the market price between them should be kept at a reasonable price difference. When the price difference between two related commodities in Bohai Commodity Exchange deviates from the normal level, traders can buy and sell these two commodities at the same time in the exchange market. After a period of time, when the spread narrows, traders will carry out the reverse operation of selling and buying respectively, which is the purpose of arbitrage. Traders can flexibly use the daily physical delivery declaration system of Bohai Commodity Exchange to obtain reasonable delay compensation.
(1) A commodity production enterprise obtains reasonable delay compensation by declaring physical delivery. Commodity production enterprises can get deferred compensation when they declare physical delivery.
(2) The commodity demand enterprise obtains reasonable compensation for delay by declaring physical delivery. When the goods demand enterprises declare the physical delivery, they can get the delay compensation fee when the purchase order quantity cannot be delivered in full.