品种创新为绿色发展注入新动能

Core Viewpoint - The Shanghai Futures Exchange (SHFE) is innovating green financial products to support the low-carbon transformation of traditional industries, specifically focusing on the aluminum and paper sectors [1][8]. Group 1: Aluminum Industry - The SHFE launched the first domestic recycled commodity futures and options for casting aluminum alloy on June 10, 2025, filling a gap in the financial derivatives market for recycled aluminum [3]. - China is the largest producer and consumer of casting aluminum alloys, with a production capacity of approximately 13 million tons and a consumption of about 6.73 million tons in 2024 [2]. - The carbon emissions from producing one ton of casting aluminum alloy are only 3.6% of those from traditional electrolytic aluminum, aligning with the goal of producing over 15 million tons of recycled aluminum by 2027 [2]. - As of September 19, 2025, the trading volume for casting aluminum alloy futures reached 361,200 contracts, with a total transaction value of 71.52 billion yuan, indicating strong market engagement [3]. - Major companies in the aluminum sector are actively using the casting aluminum alloy futures for hedging, improving resource utilization and risk management [4]. Group 2: Paper Industry - The SHFE introduced the world's first financial derivatives for cultural paper, specifically for offset printing paper, on September 10, 2025, to facilitate the green transformation of the paper industry [5][6]. - In 2024, China is projected to produce 9.48 million tons of offset printing paper, with a market size nearing 50 billion yuan [6]. - The introduction of offset printing paper futures allows upstream paper manufacturers to hedge against price fluctuations in raw materials, thus enhancing product quality and reducing price wars [6][7]. - The contract design for offset printing paper incorporates green principles, prioritizing "green factories" for delivery and setting strict quality standards to promote environmental sustainability [7][8]. Group 3: Future Outlook - The SHFE aims to continue developing green financial products and optimizing services to support the low-carbon transition of industries, positioning these tools as stabilizers and accelerators for high-quality economic development [8].