SHFE Takes Action in Response to Irrational Gain in Steel Market

Published: Aug 11, 2017 17:53

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Shanghai Futures Exchange (SHFE) announced measures in response to irrational price gains in China's steel market on Aug. 11.

SHANGHAI, Aug. 11 (SMM) – Shanghai Futures Exchange (SHFE) announced Aug. 11 to limit daily open interests of SHFE RB1710 and RB1801 by non-members and clients of futures companies at 8,000 lots at its maximum from Aug. 15, 2017.

SHFE also decided the same day to raise the commission fee for position closing of SHFE RB1710 and RB1801 contracts from 1‱ to 5 ‱ of transaction price from Aug. 15, 2017.

SMM Interpretation of China Crazy Steel Rise Following CISA Meeting

The bourse also reminds investors to cautiously judge market information and to rationally invest, so as to safeguard the stable and sound market operation.

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