有色金属冶炼企业期货套期保值风险控制探讨

当今更多的有色冶炼企业试图通过期货套期保值交易来转移现货交易的价格风险,保证生产经营或者投资利润的稳定性,但套期保值本身作为一个规避风险的衍生金融工具,自身也存在着风险,使用或管理不当会给企业带来巨大的风险和损失。文章从理论和实践两个方面对有色冶炼企业套期保值风险控制提出了系统的合理规划,以降低企业期货套期保值实施过程中的风险,为探讨我国企业特别是有色金属冶炼企业如何更好地控制期货套期保值风险,具有现实研究意义。     

黄金企业套期保值问题探究

面对国际黄金市场复杂的环境及变幻莫测的价格波动,越来越多的黄金企业开始意识到套期保值的重要性。该文详述了套期保值的积极作用和方法,分析了中国黄金企业套期保值的现状,针对不同类型的黄金企业给出套期保值策略,指出了企业套期保值存在问题,并对套期保值未来的发展作出了展望。     

黄金生产企业风险控制与套期保值策略

鉴于套期保值可以有效规避价格波动的风险,国际黄金生产企业一般通过远期、期权等衍生工具进行套期保值销售,国内黄金生产企业受市场因素制约,目前仅能利用T＋D和期货在套期保值方面进行一些尝试。文中探讨了黄金生产企业套期保值的必要性,介绍了国际黄金生产企业套期保值的一般方法,总结了国内黄金生产企业套期保值实践,合理制定了套期保值政策应遵循的基本原则。     

企业套期保值的基差风险若干问题研究

本文主要从企业套期保值的概况角度出发,阐述了企业套期保值的基差风险概况,论述了企业套期保值的基差风险因素,叙述了企业套期保值的基差风险管理对策,并从不同角度进行详细分析,从而为企业套期保值的基差风险若干问题研究提供参考。     

黄金期权在黄金企业风险管理中的应用探析

黄金期权实现了企业套期保值从线性模式到非线性模式的发展,对企业进行风险管理、稳定经营和丰富投资渠道等具有重要作用。阐述了黄金期权及其作用,总结了黄金企业主要风险点、套期保值类型及策略,并详细对比分析了黄金期权套期保值策略应用案例及效果,以期为黄金企业多元化、精细化、个性化的风险管理提供借鉴。     

黄金企业套期保值实务探究

面对当前复杂的黄金市场形势和多变的黄金价格,黄金企业在套期保值面临挑战、风险频发的情况下,优化交易策略,实现最佳套期保值效果和效益最大化具有重要现实意义。从黄金企业实际操作角度出发,分析黄金企业套期保值存在问题及面临的挑战,并探讨黄金企业在制度、组织、流程、交易机制等方面构建套期保值的策略,从而对黄金企业的实际交易和套期保值管理起到借鉴作用。     

企业套期保值的有效性

本文就生产型企业的套期保值行为做了系统性的研究。首先,明确了生产型企业参与期货市场的目的在于套期保值。其次,针对现有的套期保值理论不适于解释说明了生产型企业的套期保值实践这一现状,提出了生产型企业套期保值界定准则。     

套期保值风险以及回避方法分析

套期保值的最佳方案是自然对冲,只有买卖合同出现价量不匹配时才通过期货市场进行套期保值。要利用其趋利避害,为企业的生产经营保驾护航。本文以铜为例,就套期保值中可能出现的一些风险以及回避方法做简单分析,供相关人士参考。     

正确认识套期保值在企业的运用

本文通过对三普药业套期保值案例的分析,以铜行业为例阐述了套期保值在企业的运用等相关问题。今年11月2日三普药业发布套期保值业务损失赔偿公告称:经公司董事会研究决定套期保值业务全部损失约37000万元分别由公司保值业务领导小组成员蒋锡培承担30000万元、蒋华君承担5000万元、陈海萍承担1000万元、蒋泽元承担1000万元,以上     

目前我国铜企业套期保值操作策略初探

期货套期保值操作是指企业利用期货市场的风险转移功能,锁定企业的合理经营利润的过程。根据套期保值者在期货市场所处交易头寸的不同.套期保值分为卖期保值和买期保值两种。卖期保值者一般打算在将来某个时候在现货市场出售商品,为了避免现货价格波动造成的损失,首先在期货市场卖出与现货品种相同、数量相近的期货合约。到了预期日,当现货价与期货价的基差对卖期保值者有利时,即把手中合约平仓,完成套期保值交易。买期保值者一般打算将来某个时候在现货市场买入商品,为了避免现货价格波动造成损失,先在期货市场上买入与现货品种相同、数量相近的期货合约,到了预期日,当基差对买期保值者有利时,即把手中合约平仓,完成套期保值交易。     

转炉炉壳热应力分析

根据实际转炉建立实体模型。以有限元为手段,考虑了炉衬和炉壳材料的物性参数随温度变化的特点和炉衬与炉壳之间膨胀间隙,计算了转炉炉壳在温度载荷和炉衬膨胀压力同时作用下的热应力。所得结果可为转炉炉壳设计提供依据。     

焦炭热性能指标意义浅析

通过对焦炭在高炉内的历程及其变化规律的剖析,阐述焦炭热性能指标的意义,形象地把焦炭在高炉内的损耗分为三部分(M1,M2,M3)。指出M2对焦比及焦炭价格有一定的指导作用。     

Results of treatment of cancer of the cardia

Cancer of the cardia is traditionally discussed with cardiac cancer of the lower portion of the esophagus and upper gastric cancer invading the esophagus, and the specific characteristics of cancer of the cardia have never been clearly defined. We reviewed the outcome of 172 patients with adenocarcinoma of the cardia who had undergone radical surgery between 1949 and 1994 in the Division of Gastrointestinal Surgery of the Cancer Institute Hospital. The centers of the tumors were located within 2 cm above and below the boundary between the esophagus and the stomach, and their longitudinal diameter was less than 8 cm. We divided the patients into an early period (1949-1979; n = 79) and a late period (1980-1994; n = 93), and focused on the historical transition. There were no differences in patient gender or histology between the two periods. However, the late period was associated with fewer cases of esophageal invasion and shorter longitudinal diameter, as the age of the population advanced. The number of advanced cancers such as the localized and infiltrative type had decreased, and early cancer and early clinical stage had become more common, but despite the fact that the number of early cancers had increased, extended dissection, such as thoracic and paraaortic lymph node dissection, was performed more frequently. By clinical stage, the long-term outcome markedly improved in Stage I patient in the late period, and tended to improve in Stage II and III patients. This appears to have been attributable to the prevention of micrometastasis by extended dissection, although the number of early cancers is another major potential cause. There were no differences in the outcome of Stage IV patients between the two periods, and further advances in multimodality therapy must be awaited. The range of resection is basically proximal gastrectomy, and if there are adequate indications, the prognosis is favorable. In view of the status of lymphatic flow and lymph node metastasis, and long-term results, lateroaortic lymph node dissection is important. Since the number of early cancer patients has been increasing, if intraabdominal recurrence is prevented, intrathoracic lymph node dissection will contribute greatly to the outcome of such patients.     

The effect of amount of possession of the trait of hostility on accuracy of perception of hostility in others.

Some theories of personality hold that an individual's perception of others is influenced by his own personality characteristics; more specifically, that a trait of low social value will be projected more into others, and that insight into the possession of these characteristics reduces this distortion. These 2 hypotheses were tested by having a group of college students rate each other (including themselves) on degree of friendliness or hostility. Agreement with group rating about self yielded the insight score. In general, the hypotheses were supported; the "friendly" Ss were most accurate in their perception of others, and insight was positively associated with accurate perception. From Psyc Abstracts 36:04:4HL16M. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Effect of antibiotics of chemotaxis of human leukocytes

The effect of 20 different antibiotics on chemotaxis by human neutrophils was studied. Human leukocytes incubated with chloramphenicol, rifampin, sodium fusidate, and tetracyclines in vitro showed markedly depressed migration. The mechanisms by which these antibiotics affect leukotaxis are discussed.     

Quality of life of relatives of mental patients

Usage of quality of life of psychiatric patients' relatives as the parameter of estimation of the quality of psychiatric care is considered. By means of standard questionnaire elaborated by the authors as well as by means of both individual and group conversations the quality of life was analyzed in 40 relatives which lived together with psychiatric patients. Different spheres of their life and difficulties (financial, social-psychologic, production) were examined in families with such patients. The defects of psychiatric care that had direct influence on the quality of life of the psychiatric patients' relatives are outlined.