Group 1 - The domestic steel market has experienced multiple cycles from 2014 to 2023, with the Mysteel average steel price index peaking at 6634 yuan/ton and dropping to a low of 1981 yuan/ton, influenced by macroeconomic cycles, supply-demand imbalances, policy adjustments, and international commodity linkages [1] - The financial attributes of rebar and hot-rolled coils have increased, making the factors affecting steel spot market prices more complex [1] - The black commodity derivatives market has been rapidly developing, with futures covering the entire industrial chain, playing a significant role in price discovery and hedging [1] Group 2 - The innovation of on-exchange options and off-exchange derivatives has provided diverse risk management options for industrial chain enterprises [2] - The black commodity industrial chain has a wide customer distribution across real estate, infrastructure, and machinery manufacturing, with significant regional demand differences [2] - This broad distribution offers extensive application space for derivative tools [2]
五矿发展股份有限公司副总经理张旭:黑色产业链为衍生工具提供了广阔的应用空间