Inventory Pressure Under The Outbreak, PTA Enterprises Use Futures Tools Warehouse Receipts Surge

Affected by the new crown pneumonia epidemic, the mismatch of the upstream and downstream industries has led to a substantial increase in the stock market in the near future PTA, and manufacturers are facing greater sales pressure. At this point, some enterprises use the risk management function of futures market to convert spot stocks into futures warehouse receipts, and sell them in the remote months to solve the inventory problems, while relieving the pressure of funds effectively.


Data show that as of March 4th, the PTA futures warehouse and the effective forecast totaled 650 thousand tons, compared with February 3rd, the warehouse receipts increased by 289.2%. In March 6th, Zhengshang issued a notice to increase the temporary storage point of the designated PTA delivery warehouse, Pinghu Huarui storage Co., Ltd.


According to the insiders, the volume of warehouse receipts for PTA futures has surged in the past 1 months, mainly due to the fact that enterprises are registered as futures warehouse receipts in the futures market when the inventory pressure is large and the storage capacity is insufficient. This shows that the understanding and application of PTA industry chain to futures market is relatively mature. When the industry encounter "black swan" incident, it can flexibly apply various means to adjust production and operation.


Analysts believe that PTA spot enterprises have good market base for stock management using futures warehouse receipts. First, PTA futures have been listed for 14 years, and the industrial customer participation rate has been steadily enhanced. The industry's understanding of the functions of the varieties has been relatively in place. Two, the combination of spot trading practices and the implementation of PTA futures warehouse receipts is a great promotion to the circulation of PTA warehouse receipts. Therefore, in recent years, PTA futures warehouse receipt has become an effective reflection of spot inventory, and also fully reflects the financial attributes of physical commodities converted into property certificates.


In view of the actual needs of spot enterprises in the futures market for inventory management during the epidemic, Zhengshang has done a good job in the related delivery services to meet the needs of industrial customers. At present, Zheng Shang has mobilized and coordinated 19 PTA futures delivery warehouses for warehousing, application data scanning and transmission, so as to ensure the operation efficiency of the business.


In order to do well in the delivery service during the epidemic prevention and control and meet the needs of risk avoidance in the PTA spot industry, Zhengzhou made corresponding measures in time to ensure the normal operation of the warehouse receipts business.


One is to coordinate deliveries to make deliveries, and Zhengshang timely completes the investigation and rehabilitation of delivery warehouses, and restores and reproduces time. It sends the requirements of the designated warehouses (factories) in the epidemic season to carry out relevant business in an orderly way, and helps the delivery warehouses to complete warehousing, warehouse receipt registration, data transmission and so on.


The two is to fully protect the delivery capacity. In order to meet the needs of industrial customers, a PTA delivery warehouse is added in time. When the warehouse warehouse is generated, the warehousing links are avoided, and the efficiency of warehouse receipt generation is improved.


The three is to increase temporary inventory. Due to the change of spot stock, the volume of PTA futures warehouse receipts has a significant periodicity. Zheng Shang has actively explored the new mode, increased the temporary inventory points, and ensured the PTA futures delivery benchmark to meet the warehousing needs of some industrial customers. The four is to add exemption brand and reduce the cost of warehouse receipt generation.


According to the insiders, as the first chemical variety to be listed in the domestic futures market, PTA futures is the first chemical species to realize the full coverage of futures options, domestic and overseas, and in the field. PTA futures trading has a high position, good circulation of warehouse receipts and effective market functions. During the resumption of production and reproduction, PTA futures market fully embodies the functions of price discovery and so on. Production enterprises expand sales through warehouse receipts circulation, and downstream polyester enterprises establish virtual stocks to prepare raw materials to help the polyester industry chain achieve sound operation.