SHFE Fuel Oil
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SHFE fuel oil futures trade on the Shanghai Futures Exchange (SHFE). They were launched on August 25, 2004. SHFE fuel oil futures are the only energy futures currently listed in China.
Each SHFE fuel oil futures contract represents 10 tons of deliverable grade fuel oil, which is defined as 180CST or higher standard as good for delivery, and its delivery date is set as five consecutive business days after the last trading day[1].
Each SHFE fuel oil futures contract is subject to a margin rate equivalent to 8 percent of contract value (e.g., 3914.4 yuan = 4893 yuan [FU0808 last price on May 23, 2008] x 10 [tons/contract] x 8 percent) as well as a trading fee equal or below 0.02 percent of transaction value / contract.
In 2007, SHFE fuel oil futures traded 2,401,0188 contracts (-5.72 percent YOY) and its turnover amounted to 849.6 billion yuan (-0.50 percent YOY), making it one of the four Chinese futures contracts that traded less in 2007 than in 2006 (both in terms of volume and turnover).
| Fuel Oil futures | ||
|---|---|---|
| Exchange | Shanghai Futures Exchange | |
| Settlement | Physically delivered | |
| Trade Unit | 10 ton/lot | |
| Point Value | 10 yuan (RMB) | |
| Tick Value | 10 yuan (RMB) | |
| Contract Months | January to December(Except the Spring Festival) | |
| Last Trading Day | The last trading day of the month before the spot month | |
| Note: This contract is electronic ONLY -- no open outcry | ||
| No Open Outcry | No Electronic Market | |
| Trading Hours | N/A | 9:00 am to 11:30 am, 1:30 pm to 3:00 pm |
| Ticker Symbol | N/A | FU |
| Price Limits | N/A | Within range of 5% above or below the settlement price of the previous trading day |
References
- ↑ Fuel Oil Contract Specification. Shanghai Futures Exchange. Retrieved on May 24, 2008.
