SHFE To Adjust Margin, Trading Limits For Dragon Boat Holiday-Shanghai Metals Market

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SHFE To Adjust Margin, Trading Limits For Dragon Boat Holiday

Industry News 03:57:32PM Jun 11, 2010 Source:SMM

SHANGHAI, Jun 10, 2010 (Dow Jones Commodities News via Comtex) -- The Shanghai Futures Exchange has said it will adjust its limits on margin trading and price volatility for all contracts on June 11 and June 18, before and after the Dragon Boat Festival break.

The minimum margin for trading of rebar, wire, natural rubber and fuel oil contracts will be raised to 10% of the contract value from 8% starting June 11, the last trading session before the holiday, the SHFE said in a statement late Wednesday.

The margins will be reset to 8% at settlement on June 17, the first trading session after the holiday, if trading on that day doesn't touch upper or lower limits.

The minimum margin for trading of aluminum and gold contracts will be raised to 10% starting June 11 and reset to 7% at settlement June 17 if trading on that day doesn't touch upper or lower limits.

The minimum margin for trading of zinc futures will be raised to 10% starting June 11 and reset to 7.5% at settlement June 17 if trading on that day doesn't touch upper or lower limits.

The minimum margin for trading of copper futures will also be raised to 10% staring June 11 and reset to 8.5% at settlement June 17 if trading on that day doesn't touch upper or lower limits.

The upper and lower trading limits for all contracts traded on the bourse will be widened to 7% of previous settlement prices starting June 11, and will be reset to 5% June 18 if trading the previous day doesn't hit upper or lower limits.

The futures bourse usually makes such changes ahead of long holidays given the chance of higher volatility due to movements on the London Metal Exchange while the Chinese market is closed.
 

Key Words:  base metal  SHFE market 

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51.5
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SHFE To Adjust Margin, Trading Limits For Dragon Boat Holiday

Industry News 03:57:32PM Jun 11, 2010 Source:SMM

SHANGHAI, Jun 10, 2010 (Dow Jones Commodities News via Comtex) -- The Shanghai Futures Exchange has said it will adjust its limits on margin trading and price volatility for all contracts on June 11 and June 18, before and after the Dragon Boat Festival break.

The minimum margin for trading of rebar, wire, natural rubber and fuel oil contracts will be raised to 10% of the contract value from 8% starting June 11, the last trading session before the holiday, the SHFE said in a statement late Wednesday.

The margins will be reset to 8% at settlement on June 17, the first trading session after the holiday, if trading on that day doesn't touch upper or lower limits.

The minimum margin for trading of aluminum and gold contracts will be raised to 10% starting June 11 and reset to 7% at settlement June 17 if trading on that day doesn't touch upper or lower limits.

The minimum margin for trading of zinc futures will be raised to 10% starting June 11 and reset to 7.5% at settlement June 17 if trading on that day doesn't touch upper or lower limits.

The minimum margin for trading of copper futures will also be raised to 10% staring June 11 and reset to 8.5% at settlement June 17 if trading on that day doesn't touch upper or lower limits.

The upper and lower trading limits for all contracts traded on the bourse will be widened to 7% of previous settlement prices starting June 11, and will be reset to 5% June 18 if trading the previous day doesn't hit upper or lower limits.

The futures bourse usually makes such changes ahead of long holidays given the chance of higher volatility due to movements on the London Metal Exchange while the Chinese market is closed.
 

Key Words:  base metal  SHFE market