Shanghai International Energy Exchange has released its Circular on Adjustments of Trading Margin Rates and Price Limits as follows:

All related parties,

Shanghai International Energy Exchange (hereinafter referred to as “INE”) hereby notifies the trading adjustments as follows:

As from April 17, 2024, INE will adjust the trading margin rates and the price limits for the contracts listed below since the daily clearing process begins:

The price limits of Bonded Copper futures contracts will be ±7% from the settlement price of that day, the trading margin rates for hedging will be 8% of the contract value, and the trading margin rates for speculative trading will be 9% of the contract value.

In case of the situation stipulated in Article 16 of the Risk Management Rules of the Shanghai International Energy Exchange, the trading margin rates and the price limits will be adjusted on the basis of the above mentioned parameters.

Please refer to Risk Management Rules of the Shanghai International Energy Exchange for implementing other provisions concerning the trading margin rates and the price limits.

In the event of any inconsistency between the Chinese version and English translation, the Chinese version shall prevail.

Appendix: The Adjustments of Trading Margin Rates and Price Limits of Bonded Copper (BC) Futures Contracts

Shanghai International Energy Exchange
April 16, 2024