The Study of Hedging Effect in the Steel Futures
Hedgers can buy or sell according to the changes in the hasis of steel prices to lock cost,stabilize profits and even earn profit.However,in practice,hedgers must also consider the transportation,hoisting and other costs and the price premium in different market conditions to determine a reasonable basis.Meanwhile,this paper argues that if the hedgers who choose futures contracts which equal or close to the spot of the time,then the only factor that affect the effect in hedging is the change of the basis in the beginning and the ending.Choosing the best conditions of basis to hedge,will achieve the expected effect in hedging.
hedging basis strengthening of the basis weakening of the basis hedging effect
Liu Hong
Beijing Materials Institute Department:School of Economics Beijing,China
国际会议
重庆
英文
670-674
2010-09-17（万方平台首次上网日期，不代表论文的发表时间）