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, urging investors to take precautionary measures and maintain market stability [2][3]. Group 1: Trading Limit Adjustments - The SHFE has announced a new daily opening trading limit for silver futures contracts, effective from January 9, 2026, limiting non-futures company members and certain foreign participants to a maximum of 7,000 contracts for intraday trading [5]. - Hedging and market-making transactions are exempt from this new limit [5]. Group 2: Margin and Price Fluctuation Adjustments - Starting from the settlement on January 9, 2026, the margin requirements and price fluctuation limits for silver futures contracts (AG2601, AG2602, AG2603, AG2604) will be adjusted to 16% for price fluctuation limits, 17% for hedging margin, and 18% for general margin [7]. - Adjustments may occur based on specific conditions outlined in the SHFE's risk control management regulations [7]. Group 3: Transaction Fee Changes - Effective from January 9, 2026, the transaction fee for intraday closing trades of the silver futures contract (AG2604) will be set at 0.25% of the transaction amount, while the fee for tin futures (SN2602) will be adjusted to 15 yuan per contract [9]. Group 4: Regulatory Measures - The SHFE has implemented restrictions on certain clients due to excessive intraday trading volumes, marking the first instance of such action against a group of related accounts [11]. - 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 [11].