交易所重磅出手，什么信号？

Core Viewpoint - The Guangxi Futures Exchange has implemented multiple risk control measures for platinum, palladium, lithium carbonate, and polysilicon futures to strengthen market risk management amid significant price volatility [1][3]. Group 1: Risk Control Measures - The exchange has raised transaction fees, margin requirements, price fluctuation limits, and tightened trading limits for platinum, palladium, and lithium carbonate futures [1][3]. - Effective from December 25, 2025, the transaction fee for platinum and palladium futures will be set at 0.025% of the transaction amount, while lithium carbonate futures will have a fee of 0.032% [3]. - The price fluctuation limit for platinum and palladium futures will be adjusted to 10%, with margin requirements set at 12% [3]. Group 2: Market Reactions - As of December 23, platinum futures closed at a limit-up of 10%, reaching 619.95 yuan per gram, while palladium futures rose by 5.52% to 532.55 yuan per gram, and lithium carbonate surged by 5.67% to 120,360 yuan per ton [4]. - The trading sentiment in the polysilicon market has cooled, with the main contract closing down 0.91% at 59,225 yuan per ton, and trading volume and open interest declining for three consecutive days [8]. Group 3: Polysilicon Market Dynamics - The Guangxi Futures Exchange has tightened trading limits for polysilicon futures, restricting non-futures company members to a maximum of 200 contracts per day starting December 25, 2025 [6]. - Recent regulatory measures have included raising margin requirements and reducing trading limits, indicating a proactive approach to managing market risks [6][8]. - The polysilicon futures market has shown a strong correlation with the spot market, reflecting supply and demand changes in the photovoltaic industry [9].