论文部分内容阅读
今年以来,钢铁及钢铁原料市场一路波动上涨,相应的,铁矿石、螺纹钢期货价格也走出了一个明显的上涨过程。期间,铁矿石价格一度超过了90美元,铁矿石期货价格(活跃合约结算价)一度超过720元人民币/吨,在3月16日更是达到727元人民币/吨的近期高点。每当实物市场出现较大波动时,市场总会有这样的疑问产生,即市场的波动是不是期货等金融工具的金融属性带动的?
Since the beginning of this year, the market of steel and iron and steel raw materials has been rising all the way. Correspondingly, the prices of iron ore and rebar futures have also come out of an obvious upward course. During the period, iron ore prices once exceeded 90 US dollars. Iron ore futures prices (active contract settlement prices) once exceeded 720 RMB / tonne, reaching a recent high of 727 RMB / ton on March 16. Whenever there is greater volatility in the physical market, the market will always have such a question, that is, the market volatility is not the financial attributes of futures and other financial instruments driven?