我国铁矿石进口价格风险规避机制研究——以宝山钢铁股份有限公司为例

Research on Risk Avoidance Mechanism for China's Iron Ore Import Price:A Case Study of Baoshan Iron&Steel Co.,Ltd.

本文采用案例分析法、文献归纳法、定性与定量相结合的分析方法,对宝山钢铁股份有限公司的风险规避机制现状及不足进行分析,设计了一款基于期货套期保值的风险规避机制框架。本文针对铁矿石价格波动风险和汇率波动风险,从应用层面分析了实体企业期货套期保值的风险规避,设计了一款具有期货套期保值特点的风险规避机制框架,框架设计既考虑了铁矿石价格波动风险,又考虑了汇率波动风险,并从应用层面分析了不同期货品种在不同市场行情下的风险规避效果,还分析了套期保值的有效性并提出了评判标准。

This paper employs case study method,literature inductive method,and a combination of qualitative and quantitative analysis to examine the current status and deficiencies of the risk avoidance mechanism at Baoshan Iron&Steel Co.,Ltd.It designs a risk avoidance mechanism framework based on futures hedging.In response to iron ore price fluctuation risk and exchange rate fluctuation risk,this paper analyzes the risk avoidance of futures hedging for entity enterprises from an application perspective.It designs a risk avoidance mechanism framework featuring futures hedging characteristics,which considers both iron ore price fluctuation risk and exchange rate fluctuation risk.Furthermore,it analyzes the risk avoidance effects of different futures products under various market conditions from an application perspective,examines the effectiveness of hedging,and proposes evaluation criteria.