Dalian the first iron ore futures delivery system of bill of lading

Years another blockbuster variety - iron ore futures futures market will be in dalian Commodity Exchange (hereinafter referred to as the "exchange"),Standard 150# Forged Carbon Steel Welding Neck Flange and iron ore futures delivery involved in the bill of lading delivery system also become the first of its kind.

And listed on the United States and Singapore have iron ore futures contracts, dalian iron ore futures shall practise a system of physical delivery and delivery of bill of lading is noteworthy,ASME B16.9 Butt Welded reducing tee the iron ore is a physical delivery system, mode of delivery for the warehouse receipt delivery (warehouse and factory), bill of lading delivery in parallel.

At present, the United States, Singapore's iron ore futures are in iron ore price index as a benchmark,90 degree pipe fitting long radius elbow contracts expire after cash delivery. And China's iron ore imports and consumption power, spot trade is great, it also become the important prerequisite of domestic iron ore futures shall practise a system of physical delivery.For the markets are new bill of lading delivery system, "first financial daily" the reporter understands from dalian yesterday, delivery of bill of lading refers to one month before the delivery month of time, ask for the seller and the buyer, matching and supervise the exchange organization, way of delivery of cargo carried out in accordance with the prescribed procedures, delivery of bill of lading is divided into two stages, namely, matching stage and settlement stage.

The main process of the matching stage, the buyer in January 10th trading days prior to the delivery month to month 14 day,STD seamless steel pipe ASME B36.10m tube apply for delivery of bill of lading intention, after the market closed exchange summary and released. In the buyer's intention to apply for the next day, the seller according to buyer's intention, published in the previous session put forward delivery of bill of lading intended application, single intended application can contain two place of delivery. Buyers and sellers on the quantity of each delivery of bill of lading for 40000 tons, or the integer times. Exchange at the seller's intention to apply for the same day after the market closed, according to the principle of maximum delivery group matches. After the success of the pairing, exchange according to the settlement price of buyers and sellers.

In addition, the delivery of the goods is to point to by unloading, received by the buyer, the seller to exchange, port after three parties confirm bill of lading and complete the payment for goods, the property rights transfer process. Ship is expected to port or in Hong Kong, the three natural day before acceptance, the seller must notify the exchange information on place of delivery, quantity, etc., information exchanges will be sent to the buyer, the buyer and the seller consultation delivery related issues. Third natural days days after the date of notification in case of holidays until the next trading day) the buyer and the seller shall pay the relevant taxes in accordance with the corresponding 20% contract value for margin trading of (market share). The final notice day for one month before the delivery month the third day.