SHFE Fuel Oil
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.
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 2008, SHFE fuel oil futures traded 61,621,080 contracts (+156.65 percent YOY) and its turnover amounted to 2,019.2 billion yuan (+137.65 percent YOY).
|Fuel Oil futures|
|Exchange||Shanghai Futures Exchange|
|Contract Size||10 ton/lot|
|Pricing Unit||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||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 5% above or below the settlement price of the previous trading day|
- Fuel Oil Contract Specification. Shanghai Futures Exchange.