铸造铝合金期货期权赋能产业发展

Core Viewpoint - The launch of casting aluminum alloy futures and options on June 10 marks a significant step in China's futures market, being the first recycled metal variety, which aims to enhance price discovery and risk management in the aluminum industry [1][5]. Industry Overview - China has established a complete aluminum industry chain from bauxite to recycled aluminum, with casting aluminum alloy being a major product derived from recycled aluminum, widely used in sectors like electric vehicles [2][3]. - The production capacity for recycled aluminum in China is projected to reach 1,915 million tons by 2024, accounting for 24% of the total output of ten non-ferrous metals, with recycled aluminum production exceeding 1,000 million tons [2]. Market Dynamics - The introduction of casting aluminum alloy futures is seen as a crucial measure for promoting green finance and supporting the low-carbon development of the aluminum industry, while also improving the market and standards for recycled aluminum [3][4]. - The demand for casting aluminum alloy has surged due to the rapid growth of the electric vehicle sector, but price volatility in raw materials has created challenges for effective price risk management [4]. Risk Management - The new futures and options will provide industry players with better tools for managing price fluctuations, allowing for more precise hedging strategies compared to relying solely on electrolytic aluminum futures [4][5]. - The establishment of a standardized pricing mechanism for casting aluminum alloy is expected to enhance the competitiveness and risk management capabilities of companies in the sector [4][5]. Trading Performance - The first trading day saw a total of 57,300 contracts traded, with a transaction value of 11.011 billion yuan, and the main contract closed at 19,190 yuan per ton, reflecting a 4.49% increase from the listing price [1][7]. - The Shanghai Futures Exchange has been expanding its product offerings, with the introduction of casting aluminum alloy futures being a strategic move to enhance the international influence and pricing power of China's aluminum industry [7][8].