Qi Huo Ri Bao Wang·2025-11-14 00:36Core Viewpoint - The article discusses the challenges faced by the steel industry in China, particularly in managing risks and stabilizing operations amid fluctuating demand and prices. It highlights a successful collaboration between Yong'an Futures and Liugang Steel to enhance risk management capabilities through a comprehensive service model [1][4]. Industry Challenges - The steel industry is experiencing three main pain points: 1. Increased price volatility risk, with the average annual price of rebar expected to drop by 18% in 2024, leading to some steel mills' profit margins falling below 1% [2]. 2. Rising cost control pressures, with raw material procurement costs fluctuating significantly and supply chain costs increasing by 8% to 12% [2]. 3. Insufficient hedging capabilities, as over 60% of small and medium-sized steel enterprises have a hedging ratio of less than 20% and lack professional futures teams [2]. Yong'an Futures' Service Model - Yong'an Futures implemented a "six-step" service model in collaboration with Liugang Steel, which includes: 1. Futures Thinking Incubation: Initial visits to Liugang to explain futures market functions and develop a risk assessment model [2]. 2. Delivery Qualification Cultivation: Assisting Liugang in quality testing and registration of delivery brands for futures contracts [3]. 3. Talent Team Development: Conducting training courses to address blind spots and pain points in futures market participation [3]. 4. First Warehouse Receipt Generation: Helping Liugang register its first warehouse receipt, avoiding potential losses of 1.2456 million yuan due to price declines [3]. 5. Research and Hedging Implementation: Establishing a dedicated research team and designing hedging strategies to mitigate risks [3]. 6. Industry Chain Ecosystem Construction: Collaborating with upstream and downstream enterprises to optimize supply chain efficiency and stability [4]. Strategic Significance - The collaboration between Yong'an Futures and Liugang Steel has multiple strategic implications: 1. Development of a replicable service model covering training, delivery, research, and risk control [4]. 2. Promotion of deep integration between industry and finance, enhancing the steel industry's risk management capabilities [4]. 3. Establishment of a benchmark for the industry, providing a practical example for leading steel enterprises to utilize futures tools [4].