Minmetals Industrial Financial Services (Shenzhen) Co., Ltd.

Notice on Trading Adjustments During 2021 Mid-Autumn Festival

As from the settlement of the first trading day without the Limit-locked market from September 16th (Thursday), 2021, the adjustments of price limits and trading margins of DCE, SHFE and ZCE are summarized in the following table under the field “During Holiday”. INE and CFFEX makes no adjustments for this upcoming holiday.

As from the settlement of the first trading day without the Limit-locked market from September 22nd (Wednesday), 2021, the adjustments of price limits and trading margins of DCE, SHFE and ZCE are summarized in the following table under the field “After Holiday”.

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.

Sheet: Adjustments to Price Limits and Trading Margin During Mid-Autumn Festival 2021

Notes: S=Speculation, H=Hedging

Exchange	Product	Before Holiday			During Holiday				After Holiday
		Price Limit	Trading Margin		Price Limit	Trading Margin			Price Limit	Trading Margin
INE	Crude Oil	±8%	10%		Unchanged				Unchanged
	LSFO	±8%	10%		Unchanged				Unchanged
	TSR 20	±8%	10%		Unchanged				Unchanged
	Bonded Copper	±8%	10%		Unchanged				Unchanged
CFFEX	IF	±10%	12%		Unchanged				Unchanged
	IH	±10%	12%		Unchanged				Unchanged
	IC	±10%	14%		Unchanged				Unchanged
	IO	--	12%		Unchanged				Unchanged
	TF	±1.2%	1.2%		Unchanged				Unchanged
	TS	±0.5%	0.5%		Unchanged				Unchanged
	T	±2%	2%		Unchanged				Unchanged
SHFE	Copper	±8%	10%		Unchanged				Unchanged
	Aluminum	±8%	10%		±10%	12%			±8%	10%
	Zinc	±8%	10%		Unchanged				Unchanged
	Lead	±8%	10%		Unchanged				Unchanged
	Nickel	±8%	10%		Unchanged				Unchanged
	Tin	±8%	10%		Unchanged				Unchanged
	Wood Pulp	±7%	9%		±9%	11%			±7%	9%
	Steel Rebar	±8%	10%		±10%	12%			±8%	10 %
	Wire Rod	±8%	10%		±10%	12%			±8%	10%
	Hot-Rolled Coil	±8%	10%		±10%	12%			±8%	10%
	Gold	±6%	8%		Unchanged				Unchanged
	Silver	±10%	12%		Unchanged				Unchanged
	Stainless Steel	±7%	9%		±9%	11%			±7%	9%
	Fuel Oil	±8%	10%		Unchanged				Unchanged
	Bitumen	±8%	10%		Unchanged				Unchanged
	Natural Rubber	±8%	10%		Unchanged				Unchanged
ZCE	Sugar	±6%	7%		Unchanged				Unchanged
	Cotton	±6%	7%		Unchanged				Unchanged
	Wheat PM	±5%	6%		Unchanged				Unchanged
	Wheat WH	±5%	7%		Unchanged				Unchanged
	Early Rice	±5%	6%		Unchanged				Unchanged
	Late Indica Rice	±5%	6%		Unchanged				Unchanged
	Japonica Rice	±5%	6%		Unchanged				Unchanged
	Rapeseed Meal	±6%	7%		Unchanged				Unchanged
	Rapeseed	±10%	20%		Unchanged				Unchanged
	Rapeseed Oil	±6%	7%		Unchanged				Unchanged
	Cotton Yarn	±6%	7%		Unchanged				Unchanged
	Apple	±6%	8%		Unchanged				Unchanged
	Chinese Jujube	±7%	8%		Unchanged				Unchanged
	Thermal Coal	±8%	12%		Unchanged				Unchanged
	PTA	±5%	6%		±7%		8%		±5%	6%
	Methanol	±7%	8%		Unchanged				Unchanged
	Flat Glass	±7%	9%		Unchanged				Unchanged
	Ferrosilicon*	±6%	7%		±8%		10%		±6%	7%
	Silicon Manganese*	±6%	7%		±8%		10%		±6%	7%
	Urea	±6%	7%		Unchanged				Unchanged
	Soda Ash*	±7%	9%		±8%		12%		±7%	9%
	Polyester Staple Fiber	±6%	7%		±7%		8%		±6%	7%
	Peanut Kernel	±7%	8%		Unchanged				Unchanged
DCE			S	H		S		H		S	H
	Iron Ore	±10%	12%	10%	±11%	13%		11%	±10%	12%	10%
	Coke*	±8%	15%	8%	±9%	15%		9%	±9%	15%	9%
	Coking Coal*	±8%	15%	8%	±9%	15%		9%	±9%	15%	9%
	No. 1 Soybean	±8%	12%	8%	Unchanged				Unchanged
	No. 2 Soybean	±8%	9%	8%	Unchanged				Unchanged
	Soybean Meal	±7%	8%	7%	Unchanged				Unchanged
	Soybean Oil	±7%	8%	7%	±8%	9%		8%	±7%	8%	7%
	RBD Palm Oil	±8%	10%	8%	Unchanged				Unchanged
	Corn	±7%	11%	7%	Unchanged				Unchanged
	Corn Starch	±6%	7%	6%	Unchanged				Unchanged
	Polished Round-grained Rice	±5%	6%	5%	Unchanged				Unchanged
	Egg	±8%	9%	8%	Unchanged				Unchanged
	Live Hog	±8%	15%	8%	Unchanged				Unchanged
	LLDPE	±7%	8%	7%	±8%	9%		8%	±7%	8%	7%
	PP	±7%	8%	7%	±8%	9%		8%	±7%	8%	7%
	PVC	±7%	8%	7%	±8%	9%		8%	±7%	8%	7%
	Ethylene Glycol	±8%	11%	8%	Unchanged				Unchanged
	Ethenyl-benzene	±10%	12%	10%	Unchanged				Unchanged
	LPG	±8%	11%	8%	Unchanged				Unchanged
	Fiberboard	±5%	10%	10%	Unchanged				Unchanged
	Blockboard	±5%	40%	40%	Unchanged				Unchanged

*Effective from the daily clearing process begins on September 22nd, 2021:

The margin rates and price limits of Soda Ash futures contracts delivered in November, December 2021 and January 2022 will be adjusted to 12% and ±8%, respectively.

The margin rates and price limits of Ferrosilicon futures contracts delivered in November, December 2021 and January 2022 will be adjusted to 10% and ±8%, respectively.

The margin rates and price limits of Silicon Manganese futures contracts delivered in November, December 2021 and January 2022 will be adjusted to 10% and ±8%, respectively.

The speculation margin rates for Coke and Coking Coal futures contracts delivered in October, November, December 2021 and January 2022 will remain 20%.

INE/SHFE/ZCE/DCE

September 14, 2021

For more details, please refer to the links:

SHFE:

SHFE: http://www.shfe.com.cn/news/notice/911340397.html (Chinese)

INE:

http://www.ine.com.cn/en/news/notice/4804.html http://www.ine.com.cn/news/notice/4810.html (Chinese)

ZCE:

http://english.czce.com.cn/enportal/News/Announcements/webinfo/2021/09/1605598048872425.htm

http://www.czce.com.cn/cn/gyjys/jysdt/ggytz/webinfo/2021/09/1605598048604565.htm (Chinese)

DCE:

http://www.dce.com.cn/DCE/TradingClearing/Exchange%20Notice/6291378/index.html

http://www.dce.com.cn/dalianshangpin/ywfw/jystz/ywtz/6291330/index.html (Chinese)