What signal? Delivery month iron ore futures will not allow individuals to hold positions in 2205 contracts.

The trading house recently revised the relevant rules on iron ore futures, and individual positions in iron ore futures in the delivery month will not be allowed.

The big trading house issued a notice on revising the relevant rules on the warehouse restriction of iron ore futures yesterday, which revised the risk Management measures of Dalian Commodity Exchange and the hedging Management measures of Dalian Commodity Exchange. The revised rules will take effect from the I2205 contract.

According to the new rules, there are quantitative limits on the position limits of non-futures company members, foreign special non-brokerage participants and customers in iron ore contracts (see table below, units: hands). In addition, the position limit for individual customers in the delivery month is 0 hands.

According to the newly revised risk management measures, with regard to the position restriction requirements of non-futures company members, overseas special non-brokerage participants and clients, during the general month in which futures contracts of varieties other than iron ore, eggs, ethylene glycol and live pigs are listed and traded (the 14th trading day of the month preceding the contract listing to the delivery month), when the unilateral position of the contract is greater than a certain amount, Non-futures company members, overseas special non-brokerage participants and clients determine the position limit according to a certain proportion of unilateral positions; When the unilateral position of the contract is less than or equal to that amount, the position limit amount of the contract shall be stipulated in absolute terms by non-futures company members, overseas special non-brokerage participants and clients. During the period from the fifteenth trading day to the delivery month one month before the futures contract enters the delivery month, the position limit amount of non-futures company members, overseas special non-brokerage participants and clients shall be stipulated in an absolute way. The position limits of iron ore, eggs, live pig breeds, non-futures company members, overseas special non-brokerage participants and customers shall be stipulated in absolute terms. The limited position amount of ethylene glycol non-futures company members, overseas special non-brokerage participants and clients shall be stipulated in absolute terms during the last trading day of the contract from the listing of the contract to the last trading day of the month preceding the delivery month.

On the same day, the company also revised the relevant rules on options. According to the new rules, the sum of the buy position and the put position of all the call options held by non-futures company members and clients in a certain month's option contract, and the sum of the buy position of the put option and the sell position of the call option, from "shall not exceed the unilateral position limit of the underlying futures contract at the same stage" to "shall not exceed the position limit of the option contract respectively". The position limit of the option contract shall be determined and announced separately by the exchange.

Since the beginning of this year, the prices of raw materials for commodities such as copper, aluminum and iron ore have risen sharply under the influence of the international environment. Recently, commodity prices have been paid attention to and mentioned by national high-level meetings one after another.

Imports and exports rose more than 30 per cent in dollar terms in March, the fastest pace since February 2017, according to customs data released yesterday. A spokesman for the General Administration of Customs also said that the rapid rise in commodity prices also contributed to the increase in imports.

"We have noticed that the country's senior management has recently paid close attention to the rise in commodity prices, and we believe that the senior level's attention to commodity prices is not about prices themselves, but about the squeeze on the manufacturing industry in the middle and lower reaches after the rise in commodity prices upstream, which may damage economic growth." Yang Yiping, a macro researcher at Galaxy Futures Research Institute, said.

Give full play to the price discovery function of futures, restrain the excessive rise of raw material prices, in order to better serve the development of mid-and downstream industries, the futures industry has taken rapid action. Take the Dashang Institute as an example, on the afternoon of April 6, senior officials of the Dashang Institute held a discussion and exchange with the China Iron and Steel Association. The two sides exchanged views on the optimization of iron ore futures contracts, the implementation of rolling delivery, the improvement of delivery convenience, and the joint promotion of futures instruments to better serve the iron and steel industry. Dashang said that it is stepping up efforts to promote the optimization of iron ore futures-related systems and rules in order to better serve the iron and steel industry.

CISA stressed that it will cooperate with the large trading house to promote the introduction and landing of the optimized iron ore futures related systems and rules as soon as possible.