I.       Delivery Unit

The contract size for wire rod futures is 10 metric tons per lot; the delivery unit is 300 metric tons per warrant. Delivery shall be made in integral multiple(s) of the delivery unit.

II.      Quality Standards

(1)     The quality of wire rods used for physical delivery shall conform to the specifications of National Standard GB 1499.1-2024: Steel for the Reinforcement of Concrete - Part 1: Hot Rolled Plain Bars for HPB300.

(2)     The dimension, shape, weight and allowable variation, packaging, mark, and certificate of quality of delivered wire rods shall conform to the specifications of National Standard GB 1499.1-2024: Steel for the Reinforcement of Concrete - Part 1: Hot Rolled Plain Bars.

(3)     Wire rods underlying each standard warrant shall consist of commodity of the same manufacturer, grade (designation), registered trademark, and nominal diameter, and have their dates of production spanning no more than ten consecutive days. The earliest of such dates shall be taken as the date of production on the warrant.

(4)     Wire rods underlying each standard warrant shall be of a registered brand approved by SHFE, accompanied by corresponding certificate of quality.

(5)     Wire rods shall be measured by actual weight at delivery. For each warrant, the tolerance shall not exceed ±3% and the pound difference shall not exceed ±0.3%.

(6)     Warrant shall be issued by a Designated Delivery Warehouse only after its inspection and acceptance of the commodity according to applicable rules.

III.    Manufacturers and Registered Brands Recognized by SHFE

Wire rods used for physical delivery shall be of a brand registered with SHFE. The registered brands and the standards of premiums and discounts will be separately specified and announced by SHFE.

IV.     Designated Delivery Warehouses

Designated Delivery Warehouses and the standards of premiums and discounts applied to delivery warehouses at different locations will be separately specified and announced by SHFE.