白银！白银！上海期货交易所，连发多条公告！

Core Viewpoint - The Shanghai Futures Exchange (SHFE) has issued multiple announcements regarding risk warnings and adjustments to trading limits due to recent volatility in metal prices, particularly silver [1][2]. Group 1: Trading Limit Adjustments - The SHFE has set a maximum daily opening position limit of 7,000 contracts for non-futures company members and special overseas non-broker participants in silver futures starting from January 9, 2026 [4]. - Hedging and market-making transactions are exempt from this limit [4]. Group 2: Margin and Price Limit Adjustments - Starting from the close of trading on January 9, 2026, the price limit for silver futures contracts AG2601, AG2602, AG2603, and AG2604 will be adjusted to 16%, with margin requirements set at 17% for hedging positions and 18% for general positions [6]. - Adjustments to margin and price limits will be made according to the SHFE's risk control management regulations [6]. Group 3: Transaction Fee Changes - Effective January 9, 2026, the transaction fee for day trading of the silver futures AG2604 contract will be adjusted to 0.25% of the transaction amount, while the fee for tin futures SN2602 will be set at 15 yuan per contract [8]. Group 4: Regulatory Measures - The SHFE has implemented restrictions on opening positions for certain clients due to excessive trading volumes, marking the first instance of such action for a specific account group [10]. - In December 2025, the SHFE reported 73 cases of abnormal trading behavior, including 43 instances of excessive self-trading and 28 cases of frequent order cancellations [10]. - The exchange has identified 262 groups of 721 clients for actual control relationship recognition and has conducted compliance checks on 91 groups of 247 clients [10]. Group 5: Market Performance - The spot silver price has decreased to $77.44 per ounce after previously surpassing $80 per ounce, reflecting a daily drop of 4.69% [10].