Dec. 21. Since December, in the face of crazy "stones", DCE has taken actions one after another, continued to strengthen market supervision, and stepped up efforts to improve iron ore futures contract rules. As of press time, the main iron ore contract fell 0.54%, and fell nearly 3% at one point.
Nearly 50% in the past two months
According to Wind, the main domestic iron ore futures contract began to rise from the bottom of October at around 800 yuan per ton. The price once rushed to 941.5 yuan per ton on December 3, and finally closed at 937 yuan per ton, a record in December 2013. New high since the month. On December 21, the domestic futures market closed in a large area during the daytime market, and the black series collectively rose. The iron ore was approaching the daily limit, reaching a maximum of 1147 yuan/ton, which was nearly 50% in the past two months.
In response to this, Dalian Commodity Exchange (hereinafter referred to as DCE) has continuously "shot". On December 18, DCE stated that starting from the trading hours on December 22, 2020 (that is, during the night trading session on December 21), the iron ore futures trading fee standard has been adjusted to 1/10,000 of the transaction amount. Among them, the intra-day transaction fee standard for iron ore futures 2101, 2105 and 2109 contracts was adjusted to 4/10000 of the transaction amount.
On December 21, DCE announced that starting from the time of trading on December 22, 2020, non-futures company members or customers shall not open more than 2,000 lots of iron ore futures contracts on a single day. The single-day open position refers to the sum of the number of open positions for buying and selling on a single iron ore futures contract that is not a futures company member or client.
On the same day, DCE also publicly solicited opinions on adjusting the iron ore holding limit, proposing that the iron ore futures position limit model is to be adjusted to a fixed amount model, with two alternative standards; at the same time, it plans to cancel the hedging of the delivery month of iron ore varieties Provisions for the automatic conversion of the hedge amount.
The domestic futures market opened at night on the 21st. The main iron ore contract opened higher and then turned down. It once fell nearly 3%, and now it is down over 0.54%, at RMB 1,102 per ton.
As early as early December, DCE had already acted on the crazy trend of iron ore futures prices.