Notice on Trading Adjustments for 2025 International Labor Day Holiday
From the settlement on April 29 (Tuesday), 2025, the adjustments of price limits and trading margins of INE, DCE, ZCE, SHFE and GFEX are summarized in the following table under the field “During Holiday”.
The market will resume trading on May 6 (Tuesday), 2025. As from the first trading day without the limit-locked market, the adjustments of price limits and trading margins of INE, DCE, ZCE, SHFE and GFEX 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 for 2025 International Labor Day Holiday
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 | S | H | S | H | S | H | ||||
Crude Oil | ±9% | 11% | 10% | ±12% | 14% | 13% | ±9% | 11% | 10% | |
LSFO | ±9% | 11% | 10% | ±12% | 14% | 13% | ±9% | 11% | 10% | |
TSR 20 | ±8% | 10% | 9% | ±11% | 13% | 12% | ±8% | 10% | 9% | |
Bonded Copper | ±7% | 9% | 8% | ±10% | 12% | 11% | ±7% | 9% | 8% | |
SCFIS(Europe) | ±16% | 18% | 18% | ±19% | 21% | 21% | ±16% | 18% | 18% | |
CFFEX | IF | ±10% | 12% | Unchanged | Unchanged | |||||
IH | ±10% | 12% | Unchanged | Unchanged | ||||||
IC | ±10% | 12% | Unchanged | Unchanged | ||||||
IM | ±10% | 12% | Unchanged | Unchanged | ||||||
IO | ±10% | 12% | Unchanged | Unchanged | ||||||
HO | ±10% | 12% | Unchanged | Unchanged | ||||||
MO | ±10% | 12% | Unchanged | Unchanged | ||||||
TF | ±1.2% | 1.2% | Unchanged | Unchanged | ||||||
TS | ±0.5% | 0.5% | Unchanged | Unchanged | ||||||
T | ±2% | 2% | Unchanged | Unchanged | ||||||
TL | ±3.5% | 3.5% | Unchanged | Unchanged | ||||||
SHFE | S | H | S | H | S | H | ||||
Copper | ±7% | 9% | 8% | ±10% | 12% | 11% | ±7% | 9% | 8% | |
Aluminum | ±7% | 9% | 8% | ±9% | 11% | 10% | ±7% | 9% | 8% | |
Zinc | ±7% | 9% | 8% | ±9% | 11% | 10% | ±7% | 9% | 8% | |
Lead | ±7% | 9% | 8% | ±9% | 11% | 10% | ±7% | 9% | 8% | |
Nickel | ±10% | 12% | 11% | ±12% | 14% | 13% | ±10% | 12% | 11% | |
Tin | ±10% | 12% | 11% | ±12% | 14% | 13% | ±10% | 12% | 11% | |
Aluminium Oxide | ±7% | 9% | 8% | ±9% | 11% | 10% | ±7% | 9% | 8% | |
Wood Pulp | ±6% | 8% | 7% | ±9% | 11% | 10% | ±6% | 8% | 7% | |
Steel Rebar | ±5% | 7% | 6% | ±8% | 10% | 9% | ±5% | 7% | 6% | |
Wire Rod | ±7% | 9% | 8% | ±9% | 11% | 10% | ±7% | 9% | 8% | |
Hot-Rolled Coil | ±5% | 7% | 6% | ±8% | 10% | 9% | ±5% | 7% | 6% | |
Gold | ±11% | 13% | 12% | ±14% | 16% | 15% | ±12% | 14% | 13% | |
Silver | ±11% | 13% | 12% | ±13% | 15% | 14% | ±11% | 13% | 12% | |
Stainless Steel | ±5% | 7% | 6% | ±8% | 10% | 9% | ±5% | 7% | 6% | |
Fuel Oil | ±9% | 11% | 10% | ±12% | 14% | 13% | ±9% | 11% | 10% | |
Bitumen | ±9% | 11% | 10% | ±12% | 14% | 13% | ±9% | 11% | 10% | |
Butadiene Rubber | ±9% | 11% | 10% | ±12% | 14% | 13% | ±9% | 11% | 10% | |
Natural Rubber | ±8% | 10% | 9% | ±11% | 13% | 12% | ±8% | 10% | 9% | |
ZCE | Sugar | ±6% | 7% | ±9% | 10% | ±6% | 7% | |||
Cotton Fiber | ±6% | 7% | ±9% | 10% | ±6% | 7% | ||||
Wheat PM | ±7% | 15% | Unchanged | Unchanged | ||||||
Wheat WH | ±7% | 15% | Unchanged | Unchanged | ||||||
Early Rice | ±7% | 15% | Unchanged | Unchanged | ||||||
Late Indica Rice | ±7% | 15% | Unchanged | Unchanged | ||||||
Japonica Rice | ±7% | 15% | Unchanged | Unchanged | ||||||
Rapeseed Meal | ±6% (±8% for RM2505, RM2507, RM2508, RM2509, RM2511, RM2601, RM2603) | 7% (10% for RM2507, RM2508, RM2509, RM2511, RM2601, RM2603) | ±10% | 12% | ±6% (±8% for RM2505, RM2507, RM2508, RM2509, RM2511, RM2601, RM2603) | 7% (10% for RM2507, RM2508, RM2509, RM2511, RM2601, RM2603) | ||||
Rapeseed | ±10% | 20% | Unchanged | Unchanged | ||||||
Rapeseed Oil | ±6% (±8% for OI2505, OI2507, OI2509, OI2511, OI2601, OI2603) | 7% (9% for OI2507, OI2509, OI2509, OI2511, OI2601, OI2603) | ±10% | 12% | ±6% (±8% for OI2505, OI2507, OI2509, OI2511, OI2601, OI2603) | 7% (9% for OI2507, OI2509, OI2509, OI2511, OI2601, OI2603) | ||||
Cotton Yarn | ±4% | 5% | ±6% | 7% | ±4% | 5% | ||||
Apple | ±9% (±10% for AP2505) | 10% (13% for AP2505) | ±10% | 12% (13% for AP2505) | ±9% (±10% for AP2505) | 10% (13% for AP2505) | ||||
Chinese Jujube | ±9% | 10% | Unchanged | Unchanged | ||||||
Thermal Coal | ±10% | 50% | Unchanged | Unchanged | ||||||
PTA | ±6% (±7% for TA2505, TA2506, TA2507, TA2508, TA2509) | 7% (8% for TA2506, TA2507, TA2508, TA2509) | ±9% | 10% | ±6% (±7% for TA2505, TA2506, TA2507, TA2508, TA2509) | 7% (8% for TA2506, TA2507, TA2508, TA2509) | ||||
Methanol | ±7% | 8% | ±9% | 10% | ±7% | 8% | ||||
Flat Glass | ±9% (±10% for FG2505) | 10% (12% for FG2505) | ±10% | 12% | ±9% (±10% for FG2505) | 10% (12% for FG2505) | ||||
Ferrosilicon | ±8% | 9% | ±9% | 10% | ±7% | 8% | ||||
Manganese Silicon | ±8% | 9% | ±9% | 10% | ±8% | 9% | ||||
Urea | ±7% | 8% | ±9% | 10% | ±7% | 8% | ||||
Soda Ash | ±9% | 10% | ±10% | 12% | ±8% | 9% | ||||
Polyester Staple Fiber | ±6% | 7% | ±8% | 9% | ±6% | 7% | ||||
Paraxylene | ±7% (±8% for PX2505, PX2506, PX2507, PX2508, PX2509) | 8% (9% for PX2506, PX2507, PX2508, PX2509) | ±9% | 10% | ±7% (±8% for PX2505, PX2506, PX2507, PX2508, PX2509) | 8% (9% for PX2506, PX2507, PX2508, PX2509) | ||||
Sodium Hydroxide | ±7% | 8% | ±9% | 10% | ±7% | 8% | ||||
Peanut Kernel | ±7% | 8% | ±9% | 10% | ±7% | 8% | ||||
Polyethylene Terephthalate Resin for Bottles | ±6% | 7% | ±8% | 9% | ±6% | 7% | ||||
DCE | S | H | S | H | S | H | ||||
Iron Ore | ±9% | 11% | 11% | ±10% | 12% | 12% | ±9% | 11% | 11% | |
Coke | ±8% | 20% | 15% | ±9% | 20% | 15% | ±8% | 20% | 15% | |
Coking Coal | ±8% | 12% | 12% | ±9% | 13% | 13% | ±8% | 12% | 12% | |
No. 1 Soybean | ±6% | 7% | 7% | ±8% | 9% | 9% | ±6% | 7% | 7% | |
No. 2 Soybean | ±6% | 7% | 7% | ±8% | 9% | 9% | ±6% | 7% | 7% | |
Soybean Meal | ±6% | 7% | 7% | ±8% | 9% | 9% | ±6% | 7% | 7% | |
Soybean Oil | ±6% | 7% | 7% | ±8% | 9% | 9% | ±6% | 7% | 7% | |
RBD Palm Oil | ±7% | 8% | 8% | ±9% | 10% | 10% | ±7% | 8% | 8% | |
Corn | ±6% | 7% | 7% | ±7% | 8% | 8% | ±6% | 7% | 7% | |
Corn Starch | ±5% | 6% | 6% | ±6% | 7% | 7% | ±5% | 6% | 6% | |
Polished Round-grained Rice | ±5% | 6% | 6% | Unchanged | Unchanged | |||||
Egg | ±6% | 7% | 7% | ±7% | 8% | 8% | ±6% | 7% | 7% | |
Live Hog | ±6% | 8% | 8% | ±7% | 9% | 9% | ±6% | 8% | 8% | |
LLDPE | ±6% | 7% | 7% | ±8% | 9% | 9% | ±6% | 7% | 7% | |
PP | ±6% | 7% | 7% | ±8% | 9% | 9% | ±6% | 7% | 7% | |
PVC | ±6% | 7% | 7% | ±8% | 9% | 9% | ±6% | 7% | 7% | |
Ethylene Glycol | ±6% | 7% | 7% | ±10% | 11% | 11% | ±6% | 7% | 7% | |
Ethenyl-benzene | ±6% | 7% | 7% | ±10% | 11% | 11% | ±6% | 7% | 7% | |
LPG | ±6% | 7% | 7% | ±10% | 11% | 11% | ±6% | 7% | 7% | |
Fiberboard | ±5% | 10% | 10% | Unchanged | Unchanged | |||||
Blockboard | ±5% | 40% | 40% | Unchanged | Unchanged | |||||
Log | ±6% | 8% | 8% | Unchanged | Unchanged | |||||
GFEX | S | H | S | H | S | H | ||||
Industrial Silicon | ±6% | 8% | 7% | ±8% | 10% | 9% | ±6% | 8% | 7% | |
lithium carbonate | ±8% | 10% | 9% | ±10% | 12% | 11% | ±8% | 10% | 9% | |
Polysilicon | ±7% | 9% | 8% | ±9% | 11% | 10% | ±7% | 9% | 8% | |
INE/SHFE/ZCE/DCE/GFEX
April 24, 2025
For more details, please refer to the links:
SHFE: https://www.shfe.com.cn/publicnotice/notice/202504/t20250425_827640.html (Chinese)
INE: https://www.ine.cn/eng/circularnews/circular/202504/t20250425_827629.html (English)
https://www.ine.cn/publicnotice/notice/202504/t20250425_827637.html (Chinese)
ZCE: http://english.czce.com.cn/en/AboutUs/News/ggytz/webinfo/2025/04/1747231187327963.htm (English)
http://www.czce.com.cn/cn/gyjys/jysdt/ggytz/webinfo/2025/04/1747231187100252.htm (Chinese)
DCE: http://www.dce.com.cn/DCE/tradingclearing/Exchange%20Notice/8633680/index.html (English)
http://www.dce.com.cn/dalianshangpin/ywfw/jystz/ywtz/8633681/index.html (Chinese)
GFEX: http://www.gfex.com.cn/gfex/tzts/202504/f4e1207b3200432f81f1c5aab29da7ac.shtml (Chinese)