The Internationalization Of PTA Futures Has Affected The Export Of Textiles.

PTA futures deliveries are smooth and prices are highly aligned.

There is a strong demand for participation in the market, and domestic PTA exports are expanding.

The reporter learned from the Eleventh International Futures conference, which was just concluded in Shenzhen. The Zhengzhou Commodity Exchange announced that it would choose PTA futures as a pilot variety to introduce overseas investors, so as to promote the internationalization process of the variety.

At present, Zheng Shang is studying and demonstrating the relevant rules and regulations.

It is understood that PTA is one of the important bulk organic materials, mainly used for polyester products, polyester filament, polyester staple fiber and bottle film.

At present, polyester products are widely used in chemical fiber, light industry, electronics, construction and other fields, and are closely related to people's lives.

In 2014, the world's polyester production reached 64 million tons, of which China accounted for nearly half of the world's largest production of polyester products.

As the only PTA futures in the world, the price of this variety has become more and more influential internationally. The voice of some foreign enterprises demanding to enter the Chinese futures market to manage risks is getting higher and higher.

"We have always been very concerned about China's PTA futures, but even registered enterprises in China are also facing stringent requirements.

Restrictions, always find no legal and stable channels to participate in hedging of PTA futures.

Zanchi, head of GSI, a Italy bottle trading company, hopes to enter the Chinese PTA futures market as an "eligible buyer" to achieve effective hedging operations.

Statistics show that in the first 11 months of this year, the average daily turnover of PTA futures reached 977 thousand hands, an increase of 141.4% over the same period last year, accounting for 6.7% of the total volume in the National Futures market.

As of the end of November, PTA futures accounted for 33.3% of the volume of customers, and the proportion of corporate clients accounted for 40%. 90% of PTA production enterprises, 90% of trade enterprises and 80% of polyester enterprises in the country were involved.

Since 2011, the correlation between PTA futures price and spot price is as high as 0.99, which is quite similar to that of foreign mature futures. PTA futures prices and spot prices interact with each other and play a good role in price discovery.

Last year, China's imports of PTA from South Korea and Japan amounted to 8 million 800 thousand tons of raw materials and 50% of its import dependency. At the same time, more than 4 million tons of PTA downstream products, including filament, staple and bottle, were exported to Turkey, Vietnam, Pakistan and Indonesia. The volume of trade reached 24 billion yuan in the year of.

"Selecting PTA futures as a pilot breed of foreign investors will undoubtedly further expand the volume of trade and trade between domestic enterprises and the above countries, and achieve win-win results for both sides."

The industry insiders said.

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The impact of internationalization of futures on China's textile export pricing will be increasingly enhanced.

Xiamen Xiangyu Limited by Share Ltd responsible person Hong Jiangyuan said in this forum, the introduction of foreign investors to accelerate the internationalization process of PTA futures, domestic related enterprises in the pricing of international trade, it is possible to use PTA futures price as a trade pricing tool, in accordance with the global market situation in advance to avoid market risks, and then protect their legitimate rights and interests.

"At present, PTA futures market is active and liquidity is abundant.

Industrial customer participation is active, and investors' structure tends to be reasonable.

Enterprises are flexible in their use and have a good linkage in price.

Qin Quanjin, deputy general manager of Zhengshang office, said that PTA futures already have the basis and conditions for introducing foreign investors.

"The introduction of futures as a bridge can not only promote cooperation between domestic and foreign enterprises, but also help optimize the structure of the participants, further stabilize the international influence of PTA futures prices, and escort the steady development of China's real economy."

An insider analysis.