Notice on Trading Adjustments for 2024 Qingming Holiday
From the settlement on April 2nd (Tuesday), 2024, the adjustments of price limits and trading margins of INE, DCE, ZCE, SHFE and GFEX are summarized in the following table under the field “During Holiday”.
The market will resume trading on April 8th (Monday), 2024. As from the first trading day without the limit-locked market, the adjustments of price limits and trading margins of INE, DCE, ZCE, SHFE and GFEX are summarized in the following table under the field “After Holiday”.
If the above adjusted price limits and the trading margins are not consistent with the existing ones, the higher one of the two shall prevail.
Sheet: Adjustments to Price Limits and Trading Margin for 2024 Qingming Holiday
Notes: S=Speculation, H=Hedging
Exchange | Product | Before Holiday | During Holiday | After Holiday | ||||||
Price Limit | Trading Margin | Price Limit | Trading Margin | Price Limit | Trading Margin | |||||
INE | S | H | S | H | S | H | ||||
Crude Oil | ±8% | 10% | 9% | Unchanged | Unchanged | |||||
LSFO | ±8% | 10% | 9% | Unchanged | Unchanged | |||||
TSR 20 | ±6% | 8% | 7% | ±8% | 10% | 9% | ±6% | 8% | 7% | |
Bonded Copper | ±6% | 8% | 7% | Unchanged | Unchanged | |||||
SCFIS(Europe) | ±16% for EC2406-2502, ±15% for EC2502 | 18% for EC2406-2412, 17% for EC2502 | 18% for EC2406-2412, 17% for EC2502 | ±17% for EC2406-2502 | 19% for EC2406-2502 | 19% for EC2406-2502 | ±16% for EC2406-2502, ±15% for EC2502 | 18% for EC2406-2412, 17% for EC2502 | 18% for EC2406-2412, 17% for EC2502 | |
CFFEX | IF | ±10% | 12% | Unchanged | Unchanged | |||||
IH | ±10% | 12% | ||||||||
IC | ±10% | 12% | ||||||||
IM | ±10% | 12% | ||||||||
IO | ±10% | 12% | ||||||||
HO | ±10% | 12% | ||||||||
MO | ±10% | 12% | ||||||||
TF | ±1.2% | 1.2% | ||||||||
TS | ±0.5% | 0.5% | ||||||||
T | ±2% | 2% | ||||||||
TL | ±3.5% | 3.5% | ||||||||
SHFE | S | H | S | H | S | H | ||||
Copper | ±6% | 8% | 7% | Unchanged | Unchanged | |||||
Aluminum | ±6% | 8% | 7% | Unchanged | Unchanged | |||||
Zinc | ±6% | 8% | 7% | Unchanged | Unchanged | |||||
Lead | ±6% | 8% | 7% | Unchanged | Unchanged | |||||
Nickel | ±10% | 12% | 11% | Unchanged | Unchanged | |||||
Tin | ±10% | 12% | 11% | Unchanged | Unchanged | |||||
Aluminium Oxide | ±7% | 9% | 8% | Unchanged | Unchanged | |||||
Wood Pulp | ±6% | 8% | 7% | ±8% | 10% | 9% | ±6% | 8% | 7% | |
Steel Rebar | ±5% | 7% | 6% | ±6% | 8% | 7% | ±5% | 7% | 6% | |
Wire Rod | ±7% | 9% | 8% | Unchanged | Unchanged | |||||
Hot-Rolled Coil | ±5% | 7% | 6% | ±6% | 8% | 7% | ±5% | 7% | 6% | |
Gold | ±6% | 8% | 7% | Unchanged | Unchanged | |||||
Silver | ±7% | 9% | 8% | Unchanged | Unchanged | |||||
Stainless Steel | ±5% | 7% | 6% | ±6% | 8% | 7% | ±5% | 7% | 6% | |
Fuel Oil | ±8% | 10% | 9% | Unchanged | Unchanged | |||||
Bitumen | ±8% | 10% | 9% | Unchanged | Unchanged | |||||
Butadiene Rubber | ±10% | 12% | 11% | Unchanged | Unchanged | |||||
Natural Rubber | ±6% | 8% | 7% | ±8% | 10% | 9% | ±6% | 8% | 7% | |
ZCE | Sugar | ±6% | 7% | ±7% | 8% | ±6% | 7% | |||
Cotton Fiber | ±6% (±8% for CF2405) | 7% (9% for CF2405) | ±7% (±8% for CF2405) | 8% (9% for CF2405) | ±6% (±8% for CF2405) | 7% (9% for CF2405) | ||||
Wheat PM | ±7% | 15% | Unchanged | Unchanged | ||||||
Wheat WH | ±7% | 15% | Unchanged | Unchanged | ||||||
Early Rice | ±7% | 15% | Unchanged | Unchanged | ||||||
Late Indica Rice | ±7% | 15% | Unchanged | Unchanged | ||||||
Japonica Rice | ±7% | 15% | Unchanged | Unchanged | ||||||
Rapeseed Meal | ±6% | 7% | ±7% | 8% | ±6% | 7% | ||||
Rapeseed | ±10% | 20% | Unchanged | Unchanged | ||||||
Rapeseed Oil | ±6% | 7% | ±7% | 8% | ±6% | 7% | ||||
Cotton Yarn | ±6% | 7% | ±7% | 8% | ±6% | 7% | ||||
Apple | ±9% | 10% | Unchanged | Unchanged | ||||||
Chinese Jujube | ±10% | 12% | Unchanged | Unchanged | ||||||
Thermal Coal | ±10% | 50% | Unchanged | Unchanged | ||||||
PTA | ±6% | 7% | ±7% | 8% | ±6% | 7% | ||||
Methanol | ±7% | 8% | Unchanged | Unchanged | ||||||
Flat Glass | ±10% | 12% | Unchanged | Unchanged | ||||||
Ferrosilicon | ±8% | 9% | Unchanged | Unchanged | ||||||
Silicon Manganese | ±8% | 9% | Unchanged | Unchanged | ||||||
Urea | ±7% | 8% | Unchanged | Unchanged | ||||||
Soda Ash | ±10% | 12% | Unchanged | ±7% (±10% for SH2405) | 8% (12% for SH2405) | |||||
Polyester Staple Fiber | ±7% | 8% | Unchanged | Unchanged | ||||||
Paraxylene | ±10% | 12% | Unchanged | ±7% (±10% for PX2405) | 8% (12% for PX2405) | |||||
Sodium Hydroxide | ±10% | 12% | Unchanged | Unchanged | ||||||
Peanut Kernel | ±7% | 8% | Unchanged | Unchanged | ||||||
DCE | S | H | S | H | S | H | ||||
Iron Ore | ±11% | 15% | 11% | Unchanged | Unchanged | |||||
Coke | ±8% | 20% | 15% | |||||||
Coking Coal | ±8% | 20% | 15% | |||||||
No. 1 Soybean | ±6% | 7% | 7% | |||||||
No. 2 Soybean | ±6% | 7% | 7% | |||||||
Soybean Meal | ±6% | 7% | 7% | |||||||
Soybean Oil | ±6% | 7% | 7% | |||||||
RBD Palm Oil | ±7% | 8% | 8% | |||||||
Corn | ±6% | 7% | 7% | |||||||
Corn Starch | ±5% | 6% | 6% | |||||||
Polished Round-grained Rice | ±5% | 6% | 6% | |||||||
Egg | ±6% | 7% | 7% | |||||||
Live Hog | ±6% | 8% | 8% | |||||||
LLDPE | ±6% | 7% | 7% | |||||||
PP | ±6% | 7% | 7% | |||||||
PVC | ±6% | 7% | 7% | |||||||
Ethylene Glycol | ±7% | 8% | 8% | |||||||
Ethenyl-benzene | ±7% | 8% | 8% | |||||||
LPG | ±7% | 8% | 8% | |||||||
Fiberboard | ±5% | 10% | 10% | |||||||
Blockboard | ±5% | 40% | 40% | |||||||
S | H | S | H | S | H | |||||
GFEX | Industrial Silicon | ±6% | 8% | 7% | Unchanged | Unchanged | ||||
lithium carbonate | ±10% | 12% | 11% | |||||||
INE/SHFE/ZCE/DCE/GFEX
March 29, 2024
For more details, please refer to the links:
SHFE: https://www.shfe.com.cn/news/notice/911404438.html (Chinese)
INE: https://www.ine.cn/eng/circularnews/circular/131168.html (English)
https://www.ine.cn/news/notice/131173.html (Chinese)
ZCE: http://english.czce.com.cn/en/AboutUs/News/ggytz/webinfo/2024/03/1708572499719648.htm (English)
http://www.czce.com.cn/cn/gyjys/jysdt/ggytz/webinfo/2024/03/1708572499194609.htm (Chinese)
DCE: http://www.dce.com.cn/DCE/tradingclearing/Exchange%20Notice/8596612/index.html (English)
http://www.dce.com.cn/dalianshangpin/ywfw/jystz/ywtz/8596664/index.html (Chinese)
GFEX: http://www.gfex.com.cn/gfex/tzts/202403/8965d69bd1fc430b8a30226ce3aa7907.shtml (Chinese)