Uma abordagem sobre os derivativos no mercado de metais

AUTOR(ES)
DATA DE PUBLICAÇÃO

1997

RESUMO

The purpose of this dissertation is to analyse the use of derivative mechanism in the metal market. The mineral industry is trying to attenuate the price s fluctuation (instability) in its commodities using these financial instruments that provide the participants of this market with a financial profit in its operations. The dissertation intends to achieve a small survey of the structure and the operations of the future and option markets. The primary aluminum has been chosen in order to ilustrate the main mechanism of derivatives use by the non-ferrous metal producer and related companies. We can conclude trom this dissertation that the metals derivatives market is growing. In 1995 were negociated 47 millions of future and option contracts in London Metal Exchange (L.M.E.), off that the primary aluminum future contracts and optipns represent 15.000 lots. Then, Brazil should increase its operations with derivatives trom the current 400.000 tons to 2 millions tons, moving approximately to US$ 3,5 billions. But it is necessary to consider that the operations with derivatives involves more risks than any other existing financial operations, thus it is important to make a careful operations analysis of the market before using derivatives mechanism of metaIs.

ASSUNTO(S)

mercado do futuro aluminio - industria - custos

ACESSO AO ARTIGO

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