Language - English
Iron ore itself is a highly internationalized species. The introduction of overseas traders in the types of iron ore futures can enrich and improve the structure of domestic iron ore futures market participants, improve the international representation and credibility of iron ore futures prices, and make them more objective and accurate reflections of international iron ore. The changes in the market supply and demand relationship provide global iron ore trade participants with a fairer, fairer and transparent price benchmark and hedging tools, and further broaden the breadth and depth of iron ore futures serving the real economy.
After internationalization, DCE’s iron ore futures use imported fines with a grade of 62 after duty as the trading benchmark product. Fines and concentrates with an iron grade of more than 60% can be substituted for delivery, and the disk price includes tax.
| Product | Iron Ore |
|---|---|
| Trading Unit | 100 MT/Lot |
| Price Quote Unit | CNY/MT |
| Minimum Tick Size | 0.5 CNY/MT |
| Daily Price Limit Range | 4% of last settlement price |
| Contract Months | Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec |
| Trading Hours | 9:00 - 11:30 a.m., 1:30 - 3:00 p.m., Beijing Time, Monday to Friday, and other trading hours announced by DCE |
| Last Trading Day | The 10th trading day of the contract month |
| Last Delivery Day | The 3rd trading day after the last trading day |
| Deliverable Grades | Iron Ore Delivery Quality Standard of DCE(F/DCE I004-2021), the deliverable brands and the brand discounts and/or premiums will be separately prescribed by DCE. |
| Delivery Point | The delivery warehouses and delivery locations of iron ore designated by DCE |
| Minimum Trading Margin | 5% of the contract value |
| Delivery Form | Physical delivery |
| Ticker Symbol | I |
| Listed Exchange | DCE |
The trading margin standard for iron ore futures contracts is a certain percentage of the contract value. At present, the margin standard for iron ore varieties is 10% of the contract value. As the iron ore cargo contract enters the fifteenth trading day of the month before the delivery month, the exchange will gradually increase the trading margin of the contract over time.
Overseas traders can directly entrust members of domestic futures companies to conduct trading and settlement, or entrust qualified overseas brokerage institutions to entrust members of domestic futures companies to conduct trading and settlement.
Overseas traders and overseas brokerage institutions can open special RMB futures settlement accounts and special foreign exchange futures settlement accounts at designated depository banks with foreign client margin depository qualifications to handle the receipt and payment, exchange and exchange of funds related to specific domestic futures transactions. Transfer.
For specific account opening information requirements, please consult the depository bank that you plan to open.