财经深一度|丙烯期货期权“上新”，产业链将迎哪些变化？

Core Viewpoint - The listing of propylene futures and options on the Zhengzhou Commodity Exchange enhances the variety of the domestic futures market and provides significant changes for the propylene industry chain [1][3]. Industry Overview - Propylene is a crucial basic chemical product and the largest olefin variety in China, with a projected apparent consumption of 55.36 million tons and a market size of approximately 384.5 billion yuan in 2024 [1]. - The propylene industry features active trade, convenient storage, and broad demand, which will be better supported by the new futures and options [3]. Market Dynamics - The listing of propylene futures and options will meet the diverse needs of various market participants, enhancing market liquidity [3]. - Upstream producers can lock in production profits through selling hedges, while downstream companies can secure low raw material prices through buying hedges [3]. Risk Management - The new financial instruments will provide richer risk management tools for industry chain enterprises, enhancing resilience and supporting high-quality development [3][4]. - The introduction of these products is expected to improve the health of the national propylene industry chain by offering effective inventory valuation and processing range hedging tools [4]. International Trade - Domestic propylene companies are actively expanding into overseas markets, but they often rely on less representative and transparent foreign pricing sources [4]. - The new futures and options are anticipated to enhance the international influence of Chinese propylene prices, thereby improving trade efficiency for domestic enterprises [4]. Tool Diversification - The availability of both futures and options allows for more refined risk management, catering to the diverse and personalized needs of enterprises [4].