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Shanghai Futures Exchange (SFX) will begin trading futures contracts first lead-based metal products in the size of a largecontract began March 24, 2011.
According to the bourse website, each contract is 25 metric tons oflead, five times larger than the existing contract commodity copper,aluminimu, and zinc. SFX set a minimum margin of 11% andchange in daily price limit of 6%.
"By increasing the size of the contract, apparently aimed at limitingspeculative trading exchanges," said Lin Hui, head of researchdepartment at Orient Securities Futures Co., as quoted byBloomberg, today.
Since November last year, the Shanghai stock exchange hasannounced measures such as increased margins and suspension of trading fee discounts to limit excessive speculation.
In addition to SFX, Dalian Commodity Exchange and ZhengzhouCommodity Exchange also perform similar steps.
According to China Securities Regulatory Commission ChairmanShang Fulin China, commodity futures trading in China is thehighest in the world last year. The country is the biggest consumer of the metal-based commodity products.
Contract lead in the Shanghai stock exchange will be similar to theLondon Metal Exchange. In exchange, the contract size of copper,aluminum, and zinc all 25 tons. Shanghai Stock Exchange started to simulate the lead futures contract on 15 March. Currently, the stock was trading in copper, aluminum, zinc, gold, steel, rubberand fuel oil.
Contract leads to delivery of 3 months in London, which rose 18% in yesterday, was at the level of U.S. $ 2,650 per tonne at 11:29Shanghai time. (HTR)
Source: Bisnis.com
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