The world's first synthetic rubber futures and options were listed for trading on the previous issue

The world's first synthetic rubber futures and options were officially listed for trading on the Shanghai Futures Exchange (hereinafter referred to as the previous exchange) on July 28. At 9 a.m., synthetic rubber futures were successfully listed for trading with butadiene rubber as the underlying commodity, while synthetic rubber options will be officially listed at 21 a.m. tonight.

It is understood that China is the world's largest producer, consumer and importer of synthetic rubber. In 2022, the output and apparent consumption of major synthetic rubber will reach 4.842 million tons and 5.454 million tons respectively, accounting for 23% and 35% of the world. Based on the average price of 13200 yuan/ton in 2022, China's major synthetic rubber consumer market is approximately 72 billion yuan

This historic event has attracted great attention from all parties. Zhao Jungui, member of the Standing Committee of the Party Committee, Vice President and Secretary-General of the China Petroleum and Chemical Industry Federation, delivered a speech at the listing ceremony. He said that the launch of synthetic rubber futures and options not only provides new market-oriented tools for synthetic rubber industry chain enterprises, but also contributes to Risk management and stable production and operation, and also further improves the energy and chemical futures product sequence. This will have a profound impact on promoting the high-quality and standardized development of the synthetic rubber industry and enhancing the international competitiveness and influence of China's synthetic rubber industry.

Zhao Jungui introduced that for a long time, the China Petroleum and Chemical Industry Federation has maintained close cooperation with the previous period. The two sides jointly promote the integrated development of industries, serve the real economy, and ensure the security of the national industrial chain. Futures markets play an important role in discovering prices, managing risks, and ensuring supply and stabilizing prices. The simultaneous listing of synthetic rubber futures and options is also a new milestone in the cooperation between the two parties, marking the further formation of synergy between the futures and spot markets to improve the resilience and safety level of China's energy and chemical industry chain and supply chain, and promote the energy and chemical industry to achieve higher levels. Work together for quality development.

This listing activity has been jointly witnessed by the CSRC system units, the Shanghai City government, relevant industry associations, upstream and downstream enterprises in the synthetic rubber industry chain, member units of the previous period, delivery warehouses, quality inspection agencies, market institutions, news media, etc., reflecting the joint recognition and support of all parties in the industry.

The world's first listing and trading of synthetic rubber futures and options will surely become an important milestone in the development of the Chinese market. It will provide synthetic rubber industry chain companies with more flexible risk management tools and promote the stable operation of the industrial chain.