Petrochemical Industry Association: Petrochemical companies should actively enter the futures market

At the “2007 China Polyethylene Market Seminar” held by the China Petroleum and Chemical Industry Association last weekend, Feng Shiliang, deputy secretary-general of the China Petroleum and Chemical Industry Association, stated that China’s polyethylene has developed into a large-scale industry with product prices. The severe fluctuations have brought huge market risks to the business operations. He called on petrochemical companies to actively use futures tools to manage risks and ensure the healthy development of the industry.

Feng Shiliang said at the meeting that in recent years, China's polyethylene production has maintained a rapid growth trend, and the total scale of the current industry is close to 140 billion yuan. At this scale, the sharp fluctuations in the prices of products have brought about huge price risks to the business operations. The listing of the LLDPE futures of the Dalian Commodity Exchange (hereinafter referred to as “Dashang”) provides a good hedge tool for polyethylene companies, enabling companies to manage their price risk. He called on spot companies to believe and actively use the futures market as a new tool for the capital market, improve management, effectively integrate traditional industries and capital markets, and realize the rapid and healthy development of polyethylene enterprises.

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