Juhua Group withdraws from power coal futures delivery factory

On November 22, Zheng business office announced that after research and decision, the delivery business of power coal futures delivery factory and warehouse designated by Juhua Group Co., Ltd. (hereinafter referred to as "Juhua Group") would be cancelled and implemented from the date of announcement. In response, the Zheng business office replied to the reporter of China Business Daily that the cancellation of the designated power coal futures delivery factory and warehouse of Juhua Group was a normal adjustment. However, according to Zhengshang, Juhua Group took the initiative to send a notice to Zhengshang to withdraw from the power coal futures delivery factory and warehouse business. After the exit, it will only not carry out the business of delivery plant and warehouse, but it will not affect its power coal futures business. On November 25, Juhua Group told reporters that Juhua Group belongs to the state owned assets supervision and Administration Commission of Zhejiang Province. According to the latter's requirements, Juhua Group mainly does some hedging business, which restricts other policies. In addition, Juhua Group does not produce power coal by itself, which is mainly engaged in coal business. After coal arrives at the port, there are many uncertain factors, which are not conducive to the development of relevant businesses. "Originally, we had a railway second cargo factory, which was intended to serve as the warehouse of power coal delivery factory.

However, the site stipulated by Zheng Shang (power coal delivery) can only be in the port, which makes our second cargo factory ineffective and inconvenient for us to carry out business." Relevant personnel of Juhua Group disclosed that after the withdrawal of power coal futures delivery factory, Juhua Group no longer has power coal futures delivery factory business. It is understood that at present, there are 7 power coal delivery plants and warehouses designated by Zheng Shang. The warehouse number of Juhua Group is 1207, and the port delivery point is Qinhuangdao port (the second, sixth, seventh and ninth branches). According to public information, Juhua Group, formerly known as Quzhou chemical plant, was founded in May 1958. In August 1984, it was renamed Quzhou chemical industry company. In 1993, Juhua Group Company was established with the approval of the then state economic and Trade Commission. In May 2017, the company was restructured into Juhua Group Co., Ltd. The reporter learned that the power coal futures was listed on September 26, 2013, and its delivery system implemented the parallel system of vehicle and ship board delivery and factory warehouse delivery. In order to further close to the spot market and serve the real economy, in early 2016, Zhengshang office refined the delivery standard of power coal futures, further clarified the delivery process of vehicle (ship) board and the provisions on the registration and cancellation of warehouse receipts, etc., which was recognized by the market.