I.       Delivery Unit

The contract size for nickel futures is 1 metric ton per lot; the delivery unit is 6 metric tons per warrant. Delivery shall be made as in the integral

II.      Quality Standards

1.       Deliverable electrolytic nickel shall conform to the specifications of National Standard GB/T 6516-2010 for Ni9996, with total nickel and cobalt content not less than 99.96%.

2.       For each warrant, the weight difference tolerance of each standard warrant shall not exceed 3%, and the pound difference shall not exceed 0.1%.

3.       Electrolytic nickel underlying each warrant shall consist of commodity of the same manufacturer, designation, registered or certified brand, and quality grade.

4.       Electrolytic nickel underlying each warrant shall be of a brand registered with or designated by the Exchange, accompanied by corresponding certificate of quality.

5.       Warrant shall be issued by a designated delivery warehouse only after its inspection and acceptance of the commodity according to applicable rules.

III.    Registered and Recognized Brands

Deliverable electrolytic nickel shall be of a brand registered with the Exchange, or of a brand recognized by the Exchange. The registered or recognized brands and the rate of premium and discount will be separately specified and announced by the Exchange.

IV.     Designated Delivery Warehouses

Designated delivery warehouses and the rate of premium and discount applied to delivery warehouses at different locations will be separately specified and announced by the Exchange.