Reasearch On Fultures Hedging Of Alumrnum In Aluminum Processing Enterprises

In2011, it was the changing frequently of the domestic market price of the stockaluminum that brings the enormous influence to the aluminum processing enterprises themanagement cost, profit, and development. The aluminum processing enterprises have strongdesire and demand to avoid and manage the risks from the price changing.This dissertation summarizes the development of futures market and basic situation,and introduces the concept of the hedging, the basic theory and method, the purpose of thehedging, and the hedging influence factors, for aluminum processing enterprise hedged providestheory basis. For aluminum processing enterprise actual situation, has analyzed the aluminummetal industry development situation, the influence of the main factors of aluminum futuresprices.First of all, the dissertation investigates that the aluminum processing enterprises canput the aluminum futures as a financial tools of science used to rise, by its hedging function tolock, reduce the purchasing costs and the storing costs of the aluminum, so as to achieve thepurpose of evading price risk. At present, on one hand, the part of the aluminum processingenterprise, due to a lack of understanding of the business of hedging, or don’t participate and usethe other hedge way, either ignore the great futures market risk, although purporting to behedging, but was eventually evolved into a speculative, suffered huge economic losses. On theother hand, the others to develop the traditional practice Hedging business is simply buying andselling of the hedge, there exist for Hedging understanding of the error, many times its edgingdoes not work very well. Secondly, according to the hedging profits pressed effect, thedissertation investigates that the aluminum processing enterprise should according to oneself therisk preference of flexible to choose the risk open science, and according to the market trenddevelopment and enterprise actual accounting the optimal hedging ratio. In XinXiang CableCompany as an example, this paper aluminium processing enterprise composite hedgingoperation method practical analysis, and put forward in a composite hedging matters needing attention in, such as the market mutations, value technique and so on.Using futures market for hedging, enterprise want to transfer out the price uncertaintyrisk, and realize to avoid or reduce the risk of price fluctuation purpose. Forever, the futuresmarket is high risk market, the enterprise in the hedged risk when itself. Therefore, aluminumprocessing enterprises must be fully understand its system in industries of the general situationand their specific condition, according to the enterprise hedging risk analysis and control,establish and improve enterprise’s hedging risk prevention mechanism.