SHFE Approves Lead Futures Contract Amendments; Substitutes Discounted by 150 yuan/mt from March 2026

Published: Mar 6, 2026 15:27

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It was learned that SHFE released today an announcement on the issuance of the Shanghai Futures Exchange Lead Futures Contract and the Shanghai Futures Exchange Lead Futures Business Rules (Amendment). The amendment and the premiums settings will be implemented starting from the lead futures PB2703 contract on March 17, 2026. Under the delivery brand grades of the lead futures contract, substitutes will be discounted by 150 yuan/mt against the standard grade. After delivery for the lead futures PB2702 contract is completed, secondary lead ingots that meet the substitute standards under the delivery brand grades of the lead futures contract will be allowed to apply for registration of standard warrants.

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