交易所出手：调整铂、钯期货合约涨跌停板幅度等

Core Viewpoint - The Guangzhou Futures Exchange (GFEX) has announced adjustments to the trading limits and margin requirements for platinum and palladium futures contracts due to increased market volatility [1][3][9]. Group 1: Adjustments to Trading Limits and Margin Requirements - Starting from January 13, 2026, the price fluctuation limit for platinum and palladium futures contracts will be set at 16%, with the margin requirement adjusted to 18% [3]. - Effective December 29, 2025, the minimum opening order quantity for platinum and palladium futures contracts will increase from 1 lot to 2 lots, while the minimum closing order quantity will remain at 1 lot [5]. - Non-futures company members or clients will have a daily opening position limit of 300 lots for both platinum and palladium futures contracts [5]. Group 2: Market Volatility and Price Movements - On January 9, 2023, the main palladium futures contract surged over 6% after experiencing two consecutive days of price limits [9]. - The NYMEX palladium main contract rose more than 7%, currently priced at $1924.5 per ounce [10]. - Recent market fluctuations are attributed to a balance of bullish and bearish forces, with support from dovish comments by Federal Reserve officials and ongoing risk aversion [12]. Group 3: Future Market Outlook - Analysts from Citic Futures expect platinum prices to remain strong due to healthy supply-demand fundamentals and positive macroeconomic expectations, while cautioning investors to trade carefully amid increased price volatility [13]. - The outlook for palladium prices is also positive, driven by supply shortages and favorable macro conditions, although short-term price fluctuations may prompt cautious trading strategies [13].