纯苯期货正式上市，有何影响？

Core Viewpoint - The listing of pure benzene futures and options on the Dalian Commodity Exchange (DCE) is expected to enhance risk management tools for the chemical industry, supporting the transition from a "chemical power" to a "chemical strong country" in China [2]. Group 1: Market Performance - On the first trading day, all four pure benzene futures contracts closed up by approximately 0.5%, with a trading volume of 26,900 lots and a total transaction value of 4.788 billion yuan [3]. - The benchmark price for the contracts was set at 5,900 yuan per ton, with a total open interest of 5,419 lots [3]. Group 2: Industry Impact - The introduction of pure benzene futures and options will create a combination of hedging tools alongside styrene futures and options, providing effective means for enterprises to manage price risks and secure production profits during expansion cycles [2]. - Major industry players, including China Petroleum International Company and Xuyang Group, participated in the first day of trading, indicating strong interest from key stakeholders across the supply chain [4]. Group 3: Risk Management and Operational Efficiency - Companies like Xuyang Group and Hengshen Group emphasized that the new futures and options will allow for more proactive and refined management of raw material procurement and sales risks, enhancing operational stability and market competitiveness [4][6]. - The listing is expected to improve inventory management and reduce holding costs, thereby increasing capital efficiency for enterprises [5]. Group 4: Delivery Mechanism - The delivery method for pure benzene futures involves a physical delivery system with both factory and warehouse options, with a delivery unit of 30 tons [7]. - Jiangsu, Zhejiang, and Shanghai have been designated as the benchmark delivery locations due to their status as major production and trading areas for pure benzene [7].