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The polished round-grained rice futures was listed for trading on Dalian Commodity Exchange (DCE) on August 16. Over the past one month, the polished round-grained rice futures has presented rational and smooth market operation, effective and reasonable pricing, and active participation of various types of clients. Market participants generally believe that the polished round-grained rice futures has shown stable operation and moderate liquidity in the first month and its price trend has reflected the fundamentals in the polished round-grained rice spot market on the whole, conforming to market expectation on the whole.
Moderate liquidity and expected price trend
Statistics show that the polished round-grained rice futures has run for 20 trading days till September 12, with the total trading volume of 291,200 contracts (unilateral, the same below), the trading turnover of RMB 10.68 billion and the average daily open interests of 15,700 contracts ,remaining at a stable level. In particular, the trading volume of its dominant contract was 282,400 contracts, the trading turnover was RMB 10.359 billion, and the average daily open interests was 13,100 contracts.
Judging from its market operation, 8 polished round-grained rice futures contracts have been listed in the first month and the dominant contract is RR2001. According to the price trend of the dominant contract in the first month, the top price was RMB 3,735 / tonne and the bottom price was RMB 3,597 / tonne, mainly fluctuating between RMB 3,600 / tonne and RMB 3,700 / tonne. All listed contracts have shown mild fluctuation and rational market trading. On September 12, the closing price of dominant contract RR2001 was RMB 3,631 / tonne, down by 1.47% compared with that on the first trading day.
Providing the industry with a new risk management instrument
Statistics show that nearly 20,000 clients have involved in the polished round-grained rice futures trading since its listing, including 200 corporate clients. Weiwei International Trade Co., Ltd. is one of these corporate clients, and Qiqihar Hemei Grain Storage Group Co., Ltd. is one of the first batch of its industrial clients.
