SHANGHAI, Aug. 9 (SMM) – Shanghai Futures Exchange (SHFE) trimmed the size for its lead futures contract in a bid to boost trading volume for the heavy metal.
Trading unit will be changed from the original 25 tons per lot to 5 tons per lot, daily price limits from 5% to 4% and margins from 8% of contract value to 5%, the SHFE said in a statement on August 8.
Other specification will remain the same, according to the statement.
The so-called mini lead contract will start trading from September 2, it said.
In addition, to standardize storage process, price discount for lead ingots with white rust will be set at 50 yuan ($8.1) per ton, effective from December 18, it said in a separate statement.