SHFE Zinc

From MarketsWiki
Revision as of 07:28, 24 May 2008 by TedNaganawa (Talk | contribs)

Jump to: navigation, search

Template:Infobox Midpage Need Sponsor Right

SHFE zinc futures trade on the Shanghai Futures Exchange (SHFE). SHFE zinc futures are the most recent contract to be listed on the SHFE, and they were launched on March 26, 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 the last nine months of 2007, ZCE zince futures traded 20,430,898 contracts and its turnover amounted to 2,475.4 billion yuan.



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

Notes

References

  1. Zinc Contract Specification. Shanghai Futures Exchange.