"Tell me, old Nu, how did you trap them?"

Qiao Zhi just gave the order, and after giving the order, he didn't know where he went, and all the specific operations were handed over to Nudu.

Therefore, if you want to know the specific situation, you have to ask for advice from Nudu.

Seeing Qiao Zhi asking, Nudu reported to Qiao Zhi one by one like offering treasures, and it turned out that the inner situation was quite complicated.

Nudu first introduced the futures exchanges in the world that can trade steel futures.

In addition to those in China, there are currently five exchange-listed steel futures.

They are five futures exchanges.

The first is the LME's billet futures, which are the London Mercantile Exchange, which is the latest on the market compared to the other three.

The second is the scrap steel futures of C-COM in the island country of Toei, the full name of Chubu Commodity Exchange, which is much smaller than Tokyo, and it is not in the steel production area, but it is the only one that deals in steel.

Then there are Tianzhu's MCX plate, billet and sponge iron futures, which is the pioneer of steel futures, Tianzhu Commodity Futures Exchange, which was the first to operate steel futures.

Then there's the Dubai DGCX, which is the Dubai Gold and Commodities Exchange, where they can do rebar futures.

The last one is NYMEX, the New York Mercantile Exchange, which has been clamoring for steel futures, but only recently has there been substantial progress, with products such as rebar being listed there.

Obviously, Nudu is very familiar with these steel futures places, and they are introduced one by one.

It seems that Nudu is particularly interested in the C-COM scrap futures of Dongying Island Country, perhaps because he thinks that Qiao Zhi will definitely make a big move on it, so the introduction is particularly detailed.

Originally, Tokyo Bay was an important steel base for the island country of Toei, and the Tokyo Industrial Products Exchange, codenamed TOCOM, is a comprehensive industrial goods futures exchange.

This exchange ranks first in terms of trading volume and influence among the futures exchanges of the Dongying Island country.

However, TOCOM did not list steel futures, but the third-ranked Central Commodity Exchange (C-COM) took the lead in launching steel futures.

In addition, C-COM has become the only exchange in Dongying Island that has listed steel futures.

Since 2003, the domestic steel raw material prices of the Tokyo island nation have been rising, while the prices of downstream products have remained basically unchanged.

In June 2004, the Ministry of Economy, Trade and Industry of Toei Island issued the "Initiative to Stabilize the Supply of Raw Materials and Natural Resources" in order to ensure a stable supply of raw materials, including strengthening the development of overseas resources.

One of them is to improve the market mechanism and study the possibility of listing steel futures on commodity futures exchanges.

Accordingly, in July 2004, C-COM established the "Research Committee on the Stability of Circulation of Renewable Resources", and in December of that year, the above-mentioned committee submitted a research report on steel futures. In January 2005, C-COM established the "Scrap Futures Listing Preparation Committee".

In March 2005, C-COM submitted an application to the regulator for listing scrap futures.

In August 2005, it obtained the approval to list scrap futures.

In October 2005, scrap steel futures were officially listed and traded on C-COM.

After more than ten years of development, this exchange has become a unique scrap steel futures exchange in the world.

There are also many specifications of scrap steel, and the futures varieties choose the highest specification of scrap steel, that is, heavy scrap as the standard.

There are a total of 52 members of the scrap futures market in Dongying Island Country, including 31 market makers and 21 ordinary members, all of whom are steel mills.

There are more than 900 scrap production plants in the country, and 40-50 of them can produce deliverables, of which 21 are ordinary members of C-COM.

Major trading companies in the Toei island country, such as Mitsui, Mitsubishi, Itochu and Sumitomo, have entered into trading.

"According to the nature of the people of Dongying Island, you can make a big article here!"

After a little analysis, Nudu said excitedly.

At the same time, if the target of the pit person is an old exchange, then the sense of accomplishment is particularly strong.

In particular, Qiao Zhi had already told him that the steel they were collecting now would be processed in a unified manner anyway, regardless of whether it was new or old.

This determines that Nudu can swallow any steel in one bite without tabooing at all.

And in a sense, scrap steel is better, because they are already smelted steel.

Besides, even if steel is scrapped, where can it be scrapped?

Looking at Nudu's smile that didn't hold back his good ideas, Qiao Zhi knew that the exchange and its active members who were being targeted by this old fox were about to have a nightmare.

However, Nudu did not continue and changed to another one.

How to cheat people is not based on words, but on results.

This principle is self-evident to both of them.

The other is Tianzhu's MCX futures exchange.

Tianzhu MCX's plate, billet, sponge iron futures are the earliest steel futures products in the futures market.

It's a pity that this thing is a bit too high and low, no one cares too much, and it is not as noticeable as their juggling at the parade.

No matter what you say, Nudu still gave due respect, after all, no matter what it is, it is not easy to occupy the first place.

In 1991 and 1992, Tianzhu abolished the franchise and control of the steel industry respectively, which was the first step in the advent of futures.

The domestic steel demand in Tianzhu is uniformly allocated by the Ministry of Iron and Steel Industry, and the supply gap is made up by imports.

Except for the five key sectors of national defense industry, railways, industrial machinery exports, small-scale industrial enterprises and the northeast region, the Tianzhu Center no longer controls the industry.

The intervention mechanism on steel prices was also abolished on January 16, 1992, with the aim of establishing a market mechanism that guided demand by price.

According to the statistics of the International Steel Association, Tianzhu's crude steel output in 2006 reached 44 million tons, an increase of 7.6 from 40.9 million tons in 2005.

It has also risen from 9th to 7th in the world and is the ninth-largest exporter of steel.

Therefore, the fluctuation of international steel prices will directly affect the interests of enterprises in the relevant industrial chain, and of course, they will also have an interactive impact on international steel prices.

This objectively requires the existence of relevant futures varieties to guide relevant enterprises to avoid price risks.

As a result, in March 2004, Tianzhu's Commodity Exchange (MCX) launched the first exchange-traded steel futures contract.

And this variety is the world's No. 1 steel futures.

On January 30, 2006, the Tianzhu National Commodity and Derivatives Exchange launched sponge iron futures trading, which is the world's second steel futures variety

Tianzhu MCX's steel futures are currently divided into two categories: one is plates, and the other is intermediate products in the steel production process, mainly billet and sponge iron.

The London Exchange is special, although it is located in Europe, its main function is to serve a Tianzhu giant, and that businessman is a real steel giant, Nudu said he will introduce it.

Another point is that most of Nudu's experience is directed at him, so he also attaches great importance to it.

And the New York Stock Exchange steel futures in the United States of America are the latest, and if it weren't for Nudu muddying the water in it, no one would know.

There is another principle, which Qiao Zhi has strictly emphasized from the beginning.

In this operation, Nudu is not allowed to target China's steel futures market to any extent.