In recent years, the problem of cement overcapacity in China is very serious. The data show that the per capita cement output in the world is about 0.4 tons per person, while the per capita cement output in China has reached 1.5 to 1.7 tons per person, which is four times the per capita cement output in the world. How to effectively reduce production capacity, let cement enterprises return to orderly competition, and make the cement industry develop healthily and rapidly has become the focus of cement professionals. Nowadays, the spot trading mode provides a new way to solve the problem of overcapacity for the cement industry. & nbsp; & nbsp;
Recently, China Cement Network and Dong Feng, General Manager of Qianhai Joint Trading Center, found that building a unified market through spot trading can meet domestic cement demand more efficiently and solve the problem of overcapacity of cement in China. In March
2022, the Opinions of the Central Committee of the Communist Party of China and the State Council on Accelerating the Construction of a Unified National Market were issued, aiming at breaking through the key blockages restricting the economic cycle, breaking local protection and market segmentation, and speeding up the construction of a unified national market.
With the continuous improvement of China's transportation infrastructure, the construction of the unified market is expected to further break the "short leg" attribute of cement, and the regional liquidity will continue to increase; at the same time, it will also help the domestic cement industry to go out, and then release the huge domestic production capacity on a global scale. The
cement industry builds a unified market through spot trading. Dong Feng said that we can start from the following five aspects:
1. Integrate the fragmented regional market through the large-scale cement storage network layout to achieve an efficient, smooth and large-scale domestic market;
2. Create a stable, fair, transparent and predictable market environment by improving the transaction settlement business rules and relevant management measures;
III. Further reduce market transaction costs by providing diversified transaction modes and value-added services; IV. Promote scientific and technological innovation and industrial upgrading by continuously introducing the latest information technology achievements into the cement industry; V. Help the cement industry to enhance its advantages in participating in international competition and cooperation
by giving full play to the overseas resource advantages and overseas market experience of the Hong Kong Stock Exchange Group.
According to China Cement Network, QME guides the generation of domestic cement spot benchmark price by carrying out bulk cement spot trading, and further exports QME cement benchmark price as the anchor price of derivatives of overseas cement varieties, attracting overseas funds to participate in the trading of this variety. So that the domestic cement price can be transmitted and influence the international cement market price.
This provides a clear path for China's cement industry to compete for the influence and dominance of the international market price, so that the huge output and energy of China's cement industry can better escort Chinese enterprises and Chinese capital to go out, and then release the huge domestic capacity in the global scope, and realize the optimization of resources in the global scope. To ensure the maximization of national interests.
Dong Feng said that relying on the spot exchange to build a unified market can meet the domestic demand for cement more efficiently, and can further develop the value of the resources allocated by the cement industry, put the huge production capacity of China's cement into a broader international market, enhance the utilization rate of production capacity, and promote the development of China's cement industry. The market position of China's cement industry has been further consolidated.
For more spot trading information, on March 15-16, 2023, China Cement Network invited Dong Feng, General Manager of Qianhai Joint Trading Center, to attend the "2023 China Cement Industry Summit" , when he will discuss in depth the construction of a unified market relying on spot exchanges. Let's wait and see the topics related to the digital transformation of the cement industry.
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