"Shorting silver makes a fortune" short essay attracts attention, and the response from Zhongcai Futures has arrived!
Zhongcai Futures responded to market rumors stating that the claim it shorted silver prices on a large scale and made a profit of 3.6 billion yuan before the price drop is inaccurate. According to exchange data, Zhongcai Futures' position changes in silver futures show that its sell order volume reached 3,501 contracts on January 26, ranking 20th in the market. In early February, as prices corrected, the volume of sell orders gradually decreased. It is worth noting that these positions belong to client holdings and are not profits of Zhongcai Futures itself
On February 5th, the market circulated a "short essay" that generally stated, "Zhongcai Futures heavily shorted before the price plummeted, with unrealized gains exceeding 3.6 billion yuan," which attracted public attention. So, is this claim true? The reporter consulted the relevant position data from the exchange and contacted Zhongcai Futures. According to the position data released by the exchange, there are indeed noteworthy changes in Zhongcai Futures' positions in silver futures during this round of price fluctuations. On January 26th of this year, the company's position in the main silver futures contract AG2604 had a sell order volume of 3,501 lots, ranking 20th in the market; while in the far month contract AG2608, it held 2,969 lots of sell orders, ranking 2nd in the market.
Entering February, as silver prices significantly corrected, the sell order volume held by Zhongcai Futures gradually decreased. Data shows that on February 3rd, the sell order volume held by the company in contracts AG2608, AG2610, and AG2612 decreased. On February 4th, the sell order volume in the main contract AG2604 also saw a reduction. As of the market close on February 5th, the sell order volume held by the company in certain silver futures contracts remained among the top in the market.
It is worth mentioning that the aforementioned positions held by Zhongcai Futures are all client positions, meaning they reflect the overall positions of Zhongcai Futures' brokerage clients. Therefore, the claim in the aforementioned "short essay" about "Zhongcai Futures making profits from shorting" is not accurate. A relevant person in charge at Zhongcai Futures also stated to the reporter that the position data and its changes released by the exchange regarding Zhongcai Futures in silver futures contracts reflect the position changes of the company's clients in silver futures. He also emphasized that the company always adheres to compliant operations and is committed to providing professional services to clients. (Futures Daily)
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