On April 27, the Zhengzhou Commodity Exchange (ZCE) issued a notice on the adjustment of trading margin standards and price change limits for certain futures contracts during the 2026 Labor Day holiday period.
The original text is as follows:
Notice on the Adjustment of Trading Margin Standards and Price Change Limits for Certain Futures Contracts During the 2026 Labor Day Holiday Period
To all member units:
In accordance with Article 8 of the Zhengzhou Commodity Exchange Measures for Risk Control and Management of Futures Trading, after deliberation, the following adjustments will be made to the trading margin standards and price change limits for certain futures contracts during the 2026 Labor Day holiday period:
I. Effective from the settlement on April 29, 2026, the trading margin standard for flat glass and soda ash futures contracts will be 12%, with a price change limit of 10%, except that the flat glass futures 2605 contract will have a trading margin standard of 13% and a price change limit of 11%; the trading margin standard for methanol, PTA, paraxylene, caustic soda, propylene, staple fiber, bottle-grade PET, urea, ferrosilicon, silicon-manganese, and red dates futures contracts will be 10%, with a price change limit of 9%, except that the methanol futures 2605 contract will have a trading margin standard of 16% and a price change limit of 14%, the methanol futures 2606, 2607, 2608, and 2609 contracts will have a trading margin standard of 13% and a price change limit of 11%, the PTA futures 2605 contract will have a trading margin standard of 15% and a price change limit of 13%, the PTA futures 2606, 2607, 2608, and 2609 contracts will have a trading margin standard of 13% and a price change limit of 11%, the paraxylene futures 2605 contract will have a trading margin standard of 15% and a price change limit of 13%, the paraxylene futures 2606, 2607, 2608, and 2609 contracts will have a trading margin standard of 13% and a price change limit of 11%, the caustic soda futures 2605 contract will have a trading margin standard of 15% and a price change limit of 13%, the caustic soda futures 2606 and 2607 contracts will have a trading margin standard of 12% and a price change limit of 10%, the propylene futures 2605 contract will have a trading margin standard of 15% and a price change limit of 13%, the propylene futures 2606, 2607, 2608, and 2609 contracts will have a trading margin standard of 13% and a price change limit of 11%, the staple fiber futures 2605 contract will have a trading margin standard of 14% and a price change limit of 12%, the staple fiber futures 2606, 2607, 2608, and 2609 contracts will have a trading margin standard of 13% and a price change limit of 11%, the bottle-grade PET futures 2605 contract will have a trading margin standard of 14% and a price change limit of 12%, the bottle-grade PET futures 2606, 2607, 2608, and 2609 contracts will have a trading margin standard of 13% and a price change limit of 11%; the trading margin standard for rapeseed meal, rapeseed oil, peanut, white sugar, and cotton futures contracts will be 9%, with a price change limit of 8%; the trading margin standard for cotton yarn futures contracts will be 7%, with a price change limit of 6%.
II. After the resumption of trading on May 6, 2026, from the settlement of the first trading day on which no limit-up or limit-down unilateral market occurs in the contract with the largest open interest of each product, the trading margin requirement for apple futures contracts shall be 9%, with a price limit of 8%, except that the price limit for the Apple Futures 2605 contract shall be 13%; the trading margin requirement for jujube futures contracts shall be 8%, with a price limit of 7%; the trading margin requirement for propylene futures 2607, 2608, and 2609 contracts shall be 11%, with a price limit of 9%; the trading margin requirements and price limits for futures contracts of other products shall be restored to pre-adjustment levels.
Where the trading margin requirements and price limits executed in accordance with relevant rules are higher than the above standards, the relevant rules shall prevail.
All member firms are requested to strengthen capital and position risk management, and to remind investors to enhance risk awareness and strengthen risk prevention.
This notice is hereby given.
Appendix: Adjustments to Trading Margin Requirements and Price Limits During the 2026 Labor Day Holiday
Zhengzhou Commodity Exchange
Apr 2026
![[SMM HRC Daily Trading] Spot trading was in the doldrums.](https://imgqn.smm.cn/usercenter/DpLok20251217171715.png)
