[Home ] [Archive]   [ فارسی ]  
:: Main :: About :: Current Issue :: Archive :: Search :: Submit :: Contact ::
:: Volume 24, Issue 2 (8-2021) ::
IJE 2021, 24(2): 65-93 Back to browse issues page
Feasibility Study of Bitumen Futures Market in Iran
Davood Manzoor *, Aliakbar Mohammadi Samchouli
Imam Sadiq (A.S) University , manzoor@isu.ac.ir
Abstract:   (1748 Views)
The risk of price fluctuations in petroleum products has always caused many problems for this industry activists. Iran is the sixth largest producer and the biggest exporter of bitumen in the world, which many companies operating in its bitumen industry. The purpose of this study is the feasibility study of creating a bitumen futures contracts market as a tool to cover the risk of the actors of this industry. For this, the Pennings and Meulenberg three-part method is used, which states that to feasibility study of creating a futures market for each commodity, it is necessary to perform the feasibility study in three steps: examining the characteristics of the product, examining the characteristics of the market and the contract, and examining the possibility of cross-hedge for the price risk of the product. The results of examines indicate that it is possible to create a market for bitumen futures contracts in Iran, because first, the volume of transactions and price fluctuations of bitumen is very high and its supply and demand are continuous, and it is possible to store and separate different types of bitumen. Second, it is possible to control some conditions such as contract size and non-manipulation in this market. Third, there is no parallel market for cross-hedge of bitumen price risks.
Keywords: Futures Market, Bitumen Market, Commodity, Exchange, Oil Derivation, Risk Hedging
Full-Text [PDF 618 kb]   (729 Downloads)    
Type of Study: Research | Subject: Energy Economics
Received: 2021/08/28 | Accepted: 2021/08/1 | Published: 2021/09/21
Send email to the article author

Add your comments about this article
Your username or Email:


XML   Persian Abstract   Print

Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:

Manzoor D, Mohammadi Samchouli A. Feasibility Study of Bitumen Futures Market in Iran. IJE 2021; 24 (2) :65-93
URL: http://necjournals.ir/article-1-1695-en.html

Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Volume 24, Issue 2 (8-2021) Back to browse issues page
نشریه انرژی ایران Iranian Journal of Energy
Persian site map - English site map - Created in 0.04 seconds with 30 queries by YEKTAWEB 4570