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期货工具作为企业避险及套利的手段已经有悠久的历史和较为成熟的理论。对于钢铁企业而言,品种指数化和金融化后的市场波动已经对传统生产经营模式带来了极大影响。钢厂做期货已经不是新闻,但总体看来有不少都是以套期保值的初衷入市,最后却陷入套利和投机的模式。那么以避险为核心目标的国有钢铁企业该怎么看待和运用期货新工具。笔者认为,首先要明确企业自身参与期货套期保值的目的,是管理市场风险,这里的市场风
Futures tools as a means of business hedging and arbitrage has a long history and more mature theory. For iron and steel enterprises, the indexation of varieties and the market volatility after the financialization have brought great influence on the traditional mode of production and operation. Futures from steel mills are no longer news, but on the whole, quite a few of them are entering the market with the original intention of hedging, and in the end, they fall into the mode of arbitrage and speculation. Then the hedge as the core state-owned steel companies how to treat and use of new futures tools. The author believes that, first of all, it is necessary to make it clear that the purpose of an enterprise’s own participation in futures hedging is to manage market risks. Market winds here