Ma'anshan Iron and Steel to launch hedging on major futures commodities
2020-02-21 15:45:28 [Print]
Ma'anshan Iron and Steel Co., Ltd. announced that on February 20, 2020, the company's board of directors reviewed and approved the 2020 hedging work plan. The board of directors agreed to carry out hedging of the main futures commodities involved in the company's production and operation. The maximum annual hedging scale is 1.2 million tons of iron ore, 240,000t of coking coal, 120,000t of coke, 400,000t of scrap steel, 28,000t of ferroalloy and 600,000tof steel products.
At the same time, the board of directors also agreed that the standing futures margin is RMB100 million and the hedging projects that require margins exceeding RMB100 million must be submitted to the board of directors for review and approval before implementation.
At the same time, the board of directors also agreed that the standing futures margin is RMB100 million and the hedging projects that require margins exceeding RMB100 million must be submitted to the board of directors for review and approval before implementation.
