Notice on Adjustments to Price Limits and Trading Margins During 2022 Qingming Festival Holidays
Date:29 March 2022

Ref: No. 176 [2022] DCE

March 29, 2022

Dalian Commodity Exchange

To all members:

According to the Measures for Risk Management of Dalian Commodity Exchange, Dalian Commodity Exchange (DCE) has decided upon discussion to make the following adjustments to the price limits and the trading margins for futures contracts of each product before and after the 2022 Qingming Festival holidays:

From the settlement on March 31 (Thursday), 2022, the price limits and the hedging trading margins of Iron Ore futures will be adjusted to 11%, the speculation trading margins will be adjusted to 13%; the price limits and the hedging trading margins of Soybean Meal futures will be adjusted to 8%, the speculation trading margins will be adjusted to 10%; the price limits and the hedging trading margins of Soybean Oil futures will be adjusted to 8%, the speculation trading margins will be adjusted to 9%; the price limits and the hedging trading margins of RBD Palm Olein futures will be adjusted to 9%, the speculation trading margins will be adjusted to 11%; the price limits and the hedging trading margins of Corn futures will be adjusted to 8%, the speculation trading margins will be adjusted to 12%; the price limits and the hedging trading margins of Corn Starch futures will be adjusted to 7%, the speculation trading margins will be adjusted to 9%; the price limits and the hedging trading margins of LLDPE, PP, PVC, EG and LPG futures will be adjusted to 10%, the speculation trading margins will be adjusted to 12%; the price limits and trading margins of other futures will remain unchanged.

After the trading is resumed on April 6 (Wednesday), 2022, from the settlement of the first trading day when the situation that the one-direction non-continuous quotation under the price limit does not occur on the contract with the largest open interests of one product, the price limits and the trading margins of such product will be adjusted as follows:

The price limits and the hedging trading margins of LLDPE, PP and PVC futures will be adjusted to 8%, the speculation trading margins will be adjusted to 11%; the price limits and trading margins of Iron Ore, Soybean Meal, Soybean Oil, RBD Palm Olein, Corn, Corn Starch, EG and LPG futures will remain the standards during 2022 Qingming Festival Holidays; the price limits and the trading margins of other futures will remain unchanged.

Sheet: Adjustments to Risk Parameters of Relevant Futures Products of DCE During 2022 Qingming Festival Holidays

Product Present During the Holidays After the Holidays
Price Limit Trading Margin Price Limit Trading Margin Price Limit Trading Margin
Speculation Hedging Speculation Hedging Speculation Hedging
Iron Ore 10% 12% 10% 11% 13% 11% 11% 13% 11%
Coke 15% 20% 15% 15% 20% 15% 15% 20% 15%
Coking Coal 15% 20% 15% 15% 20% 15% 15% 20% 15%
No.1 Soybean 8% 12% 8% 8% 12% 8% 8% 12% 8%
No.2 Soybean 8% 9% 8% 8% 9% 8% 8% 9% 8%
Soybean Meal 7% 8% 7% 8% 10% 8% 8% 10% 8%
Soybean Oil 7% 8% 7% 8% 9% 8% 8% 9% 8%
RBD Palm Olein 8% 10% 8% 9% 11% 9% 9% 11% 9%
Corn 7% 11% 7% 8% 12% 8% 8% 12% 8%
Corn Starch 6% 7% 6% 7% 9% 7% 7% 9% 7%
Polished Round-grained Rice 5% 6% 5% 5% 6% 5% 5% 6% 5%
Egg 8% 9% 8% 8% 9% 8% 8% 9% 8%
Live Hog 8% 15% 8% 8% 15% 8% 8% 15% 8%
LLDPE 7% 10% 7% 10% 12% 10% 8% 11% 8%
PP 7% 10% 7% 10% 12% 10% 8% 11% 8%
PVC 7% 10% 7% 10% 12% 10% 8% 11% 8%
EG 8% 11% 8% 10% 12% 10% 10% 12% 10%
EB 10% 12% 10% 10% 12% 10% 10% 12% 10%
LPG 8% 11% 8% 10% 12% 10% 10% 12% 10%
Fiberboard 5% 10% 10% 5% 10% 10% 5% 10% 10%
Blockboard 5% 40% 40% 5% 40% 40% 5% 40% 40%

Note: The speculation trading margins of No.2 Soybean B2205, Soybean Meal M2205 and M2209, Soybean Oil Y2205, Corn Starch CS2205 remain 12%. The speculation trading margins of RBD Palm Olein P2205 remain 13%. The speculation trading margins of Iron Ore I2205 and I2209 remain 15%.

If the above adjusted price limits and the trading margins are not consistent with the existing ones, the higher one of the two shall prevail.

As the 2022 Qingming Festival holidays are coming and large fluctuations have been recorded in the market recently, all members are required to send risk alerts to the clients and intensify the prevention of market risks, so as to ensure the smooth market operation.

This notice is hereby released.

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

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