Difference between revisions of "SHFE Zinc"

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SHFE zinc [[futures contract|futures]] trade on the [[Shanghai Futures Exchange]] (SHFE). SHFE zinc futures were launched on March 26, 2007 and have been the most recent contract listed on the SHFE until [[SHFE gold futures]] were listed in January 2008.
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Each SHFE zinc futures contract represents 5 tons of deliverable grade zinc ingot, which is defined as standard aluminum with fineness not less than 99.995 percent and conforms with 99.995% graded zinc chemical composition of GB470-1997 as good for [[delivery]], and its delivery date is set as the 16th to 20th day of the spot month. SHFE zinc futures contract also has a minimum delivery unit requirement of 25 tons<ref>{{cite web|url=http://www.shfe.com.cn/docview/docview_72232708.htm|org=Shanghai Futures Exchange|name=Zinc Contract Specification|date=May 24, 2008}}</ref>.
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Each SHFE zinc futures contract is subject to a margin rate equivalent to 5 percent of contract value (e.g., 4450 yuan = 17800 yuan [ZN0808 last price on May 23, 2008] x 5 [tons/contract] x 5 percent) as well as a trading fee equal or below 0.02 percent of transaction value / contract.
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In 2008, its first full year of trading, ZCE zinc futures traded 47,077,794 contracts and its turnover amounted to 3,907.4 billion yuan, making it the second most active (in terms of volume) contract on the SHFE.
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China is the largest producer of zinc in the world<ref>{{cite web|url=http://www.chinamining.org/Companies/2008-05-15/1210834785d13769.html|org=China Mining Association|name=Chinese Zinc Producers in Shaanxi, Gansu Halt Output|date=June 26, 2008}}</ref>, but became a net importer in 2004<ref>{{cite web|url=http://www.atimes.com/atimes/China/GF09Ad03.html|org=Asia Times Online|name=Chinese metals, from Al to Zn|date=June 26, 2008}}</ref>, and currently importing about half a million tons of zinc a year. 
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[[image:SHFE Monthly Volume by Product.JPG{{!}}450px]]
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{{Contract
 
{{Contract
 
|exch    =  Shanghai Futures Exchange
 
|exch    =  Shanghai Futures Exchange
 
|cname    =  Zinc
 
|cname    =  Zinc
 
|commod  =  Zinc
 
|commod  =  Zinc
|ctype    =  Metal
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|ctype    =  Metals
 
|cash    =  <!-- Y if the contract is cash-settled; leave blank if not -->
 
|cash    =  <!-- Y if the contract is cash-settled; leave blank if not -->
 
|months  =  January to December
 
|months  =  January to December
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|opStrike  =  <!-- Strike price interval description -->
 
|opStrike  =  <!-- Strike price interval description -->
 
}}
 
}}
== Notes ==
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== References ==
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<references />
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[[Category:China]]
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[[Category:Futures Contracts in China]]
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[[Category:Shanghai Futures Exchange]]
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[[Category:Metals]]
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[[Category:Metals Futures]]

Latest revision as of 10:25, 9 January 2014

SHFE zinc futures trade on the Shanghai Futures Exchange (SHFE). SHFE zinc futures were launched on March 26, 2007 and have been the most recent contract listed on the SHFE until SHFE gold futures were listed in January 2008.

Each SHFE zinc futures contract represents 5 tons of deliverable grade zinc ingot, which is defined as standard aluminum with fineness not less than 99.995 percent and conforms with 99.995% graded zinc chemical composition of GB470-1997 as good for delivery, and its delivery date is set as the 16th to 20th day of the spot month. SHFE zinc futures contract also has a minimum delivery unit requirement of 25 tons[1].

Each SHFE zinc futures contract is subject to a margin rate equivalent to 5 percent of contract value (e.g., 4450 yuan = 17800 yuan [ZN0808 last price on May 23, 2008] x 5 [tons/contract] x 5 percent) as well as a trading fee equal or below 0.02 percent of transaction value / contract.

In 2008, its first full year of trading, ZCE zinc futures traded 47,077,794 contracts and its turnover amounted to 3,907.4 billion yuan, making it the second most active (in terms of volume) contract on the SHFE.

China is the largest producer of zinc in the world[2], but became a net importer in 2004[3], and currently importing about half a million tons of zinc a year.

SHFE Monthly Volume by Product.JPG


Zinc futures
Exchange Shanghai Futures Exchange
Settlement Physically delivered
Contract Size 5 ton/lot
Pricing Unit 5 yuan (RMB)
Tick Value 5 yuan (RMB)
Contract Months January to December
Last Trading Day The 15th day of the spot month
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A 9:00 am to 11:30 am, 1:30 pm to 3:00 pm
Ticker Symbol N/A ZN
Price Limits N/A Within range of 4% above or below the settlement price of the previous trading day

References

  1. Zinc Contract Specification. Shanghai Futures Exchange.
  2. Chinese Zinc Producers in Shaanxi, Gansu Halt Output. China Mining Association.
  3. Chinese metals, from Al to Zn. Asia Times Online.