The Tianjin Ferroalloy Exchange was established on November 9, 2009. Since the official listing of the first batch of ferrosilicon and silico-manganese on January 18, 2010, as of June 2011, the trading volume of the Exchange reached 4.876 million tons. The transaction amount was 35.852 billion yuan, the delivery volume was 369,200 tons, and the transaction and settlement ratio reached 7.57%, which was the world's leading level. President of the Tianjin Ferroalloy Exchange, Chien Chiang-yang, said that at present, the operation of the Tianjin Ferroalloy Exchange has gradually matured and the price discovery function has become apparent.
It is understood that manganese ore and magnesium metal are indispensable raw materials in modern industry and are used in various fields of the national economy. In addition to the iron and steel industry, it is also widely used in the chemical industry, light industry, building materials industry, electronic industry, aviation industry, automobile industry, environmental protection and agriculture and animal husbandry industries. China, as a big producer and producer of manganese ore and magnesium resources, has for a long time been lacking a relative electronic trading platform. Production, trade and consumer companies can only passively bear the risk of price fluctuations, which is detrimental to the stable and healthy development of the industry. Wu Xiuming, president of the China Non-Ferrous Metals Industry Association's Magnesium Branch, believes that the launch of the market by the Tianjin Ferroalloy Exchange will not only play a positive role in the development of the magnesium industry, but also help companies in the industry to reduce their operating costs, and it will also help China master magnesium metal. Market pricing power and discourse power.
The Tianjin Ferroalloy Exchange launched spot-long-term and spot trading electronic spot of manganese ore Mn43% and metal magnesium Mg99.90, among which Mn43% of manganese ore trading unit is 1 dry ton/batch, and the minimum price is 0.1. Yuan/dry tonnage, minimum delivery volume is 2580 tons (60 tons); magnesium Mg99.90 transaction unit is 1 ton/batch, minimum change price is 1 yuan/ton, minimum delivery volume is 1 ton.
On July 6, the Tianjin Ferroalloy Exchange held the “Ming and Magnesite New Listing Rhythm Ceremonyâ€, Cui Jindu, Member of the Standing Committee of the Tianjin Municipal Committee and Deputy Mayor, Chen Zongsheng, Deputy Secretary-General of the Municipal Government, and Liu Ning, Deputy Director of the Financial Services Office of the Municipal Government.