China's industrial raw materials for the consumption of copper is extremely high, limited domestic master production plus, and most of the industrial consumption demand by foreign imports; imported copper is the essential attribute of view, the existing main properties, but also has financial attributes, the price is affected by supply and demand, market economy and national currency the policy factors in many aspects, therefore by way of imported copper can meet the domestic needs of industrial production, but also have to face the risk of fluctuations in copper prices in import and export trade, especially in the financial crisis period, the fluctuation in the price of copper is larger for imports of copper industry in China has brought a lot of risks.
Has a serious impact on China's copper price fluctuations related to industrial production, at the same time in the fierce price fluctuations in the background, implementation is difficult for the traditional copper hedging, hedging is not the way, this need for the status quo and characteristics of the copper price hedging a new method for innovation based on the risk problems caused by fluctuations in copper prices to stabilize. After many years of practice, the hedging of copper enterprises in China has developed a lot, but there is a big gap with the mature copper enterprises abroad. China's copper enterprises hedging problems mainly show in three aspects: first, hedging defects widely on; secondly hedging defects on the existing norms, the specific performance of hedging operations are not standardized will often bring serious loss to the copper enterprises; again hedging defects on the forward-looking. From the domestic research, scholars and experts for the study from the perspective of copper futures hedging is relatively simple, the lack of systematic analysis from the perspective of practice, not to form an effective guide. In addition, copper enterprises in for hedging, the price risk management risk control, no comprehensive macroeconomic environment to control, which can effectively resist the fluctuation of macroeconomic environment for enterprises to form the price and profit impact, resulting in difficulties caused by the attack of copper enterprises.
During this research, the W copper futures hedging group as the research object, using the research methods of empirical research, normative research, the overall system from the theoretical and practical aspects, even in copper futures hedging problem analysis, combined with previous research results and case data, find out the the existing problems, so as to enhance the futures hedging strategy effectively, optimizing W group copper futures hedging level at the same time, this study can also be used for other copper enterprises in our country as a reference, to promote China's comprehensive enterprises with the overall risk level, to achieve sustained and stable development of copper industry in china.