SHANGHAI June 11 -- The Shanghai Futures Exchange said it will temporarily raise its minimum margin requirement and extend trading bands on all futures contracts around the three-day Dragon Boat Festival.
The exchange said it would raise the minimum margin requirement to 10 percent, from 7 to 8 percent, on its eight commodities futures, in a statement posted on its website. (www.shfe.com.cn)
The temporary adjustment would take effect with the settlement on Thursday, the exchange said.
It said it would also extend daily trading limits to 7 percent from 5 percent on contracts for copper <0#SCF:>, aluminium <0#SAF:>, zinc <0#SZN:>, rubber <0#SNR:>, fuel oil <0#SFU:>, gold <0#SHAU:>, wire rod <0#SWR:> and reinforcing bar <0#SRB:> for trading on June 11.
The exchange will be closed from June 14 to 16 for the public holiday.