Dalian Commodity Exchange (DCE) plan to introduce Styrene Futures
Date : 2019-09-19
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Dalian Commodity Exchange (DCE) release the notice on public consultation on styrene futures contracts and related rules and the notice on the collection of styrene futures delivery warehouse recently.
Styrene is a very important chemical raw material which can produces a variety of plastics and elastomers such as Polystyrene (PS), Expanded polystyrene (EPS), Acrylonitrile Butadiene Styrene (ABS), Styrene-Butadiene Rubber (SBR), Styrene-Butadiene-Styrene (SBS), Styrene Acrylonitrile (SAN), Unsaturated Polyester Resin (UPR) etc.
The market volume of China in 2018 is about 10.6 million tons and import 2.9 million tons. The market size reaches to 14.1 billion USD in 2018. However, the price of styrene have fluctuated drastically in recent years. The introduction of styrene futures will help those companies in the styrene industrial chain to hedge price risk.