“产业行”走进山东：从港口到加工厂，探寻产业链升级与期货应用新路径

Group 1 - The "2025 Wood Industry Tour" aimed to explore the wood processing industry chain and promote risk management practices such as hedging through futures tools [1] - The Lianshan Port in Rizhao is the largest wood unloading port globally, with a throughput that ranks first among coastal ports in China, featuring six wood operation berths and over 3,000 acres of dedicated storage [3] - Despite a weak overall demand for logs and increased port inventory, the industry remains stable, with processing plant operating rates dropping to around 50% [5] Group 2 - The "front port and back garden" model is being utilized to enhance the wood supply chain, aiming to create the largest wood distribution center in Northern China [6] - Companies are increasingly exploring the use of futures tools for hedging, although some state-owned enterprises face restrictions that limit their ability to engage in buying hedges [7] - The current market environment has led companies to adopt a strategy of trading more when profitable and less when not, with a growing interest in utilizing futures for risk management [9] Group 3 - There is a general lack of understanding regarding futures contracts among industry participants, highlighting the need for improved education on delivery costs and quality standards [9] - The shift in demand from the real estate sector has led to a significant decrease in the proportion of construction wood processing, prompting companies to adapt their business models [9] - The research activity successfully established a communication bridge between industry enterprises and the futures market, promoting new risk management pathways and high-quality development of the wood industry chain [12]