SHFE Copper Cathode
Each SHFE copper cathode futures contract represents 5 tons of deliverable grade copper cathode, which is defined as standard copper cathode (GB/T467-1997) with fineness not less than 99.95 percent or two substitutions 1)high grade copper (GB/T467-1997) and 2) LME registered brand BS EN 1978:1998 as good delivery, and its delivery date is set as the 16th to 20th day of the spot month.
Each SHFE copper cathode futures contract is subject to a margin rate equivalent to 5 percent of contract value (e.g., 15577.5 yuan = 62310 yuan [CU0808 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, SHFE copper cathode futures traded 41,546,516 contracts (+27.22 percent YOY) and its turnover amounted to 9,964.1 billion yuan (-1.78 percent YOY).
|SHFE Copper Cathode futures|
|Exchange||Shanghai Futures Exchange|
|Contract Size||5 ton/lot|
|Pricing Unit||5 yuan (RMB)|
|Tick Value||10 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|
|Price Limits||N/A||Within range of 4% above or below the settlement price of the previous trading day|
- Copper Cathode Contract Specifications. Shanghai Futures Exchange.