硅锰品种手册

Trading Specifications - The trading unit of manganese silicon is 5 tons per lot, with a quotation unit of RMB per ton, a minimum price change of 2 yuan per ton, and a daily price limit of ±4% of the previous trading day's settlement price. The contract months are from January to December, and the trading hours are from 9:00 - 11:30 am, 1:30 - 3:00 pm, and other trading hours specified by the exchange [19]. - The last trading day is the 10th trading day of the contract delivery month, and the delivery date is the 13th trading day of the contract price month. The delivery grade is the standard product that meets the requirements of the "National Standard of the People's Republic of China for Manganese - Silicon Alloy" (GB/T 4008 - 2008), with specific chemical composition and particle size requirements. The delivery location is the exchange - designated delivery warehouse, the minimum trading margin is 5% of the contract value, the delivery method is physical delivery, the delivery unit is 5 tons, the trading code is SM, and it is listed on the Zhengzhou Commodity Exchange [21]. - The silicon - manganese trading margin ratio is 5% from listing to the 15th calendar day of the month before the delivery month, 10% from the 16th calendar day of the month before the delivery month to the last calendar day of the month before the delivery month, and 20% during the delivery month [22]. - Under normal circumstances, the daily price limit of silicon manganese is 8% with a 5% margin. For the first trading limit, the price limit is 9% with an 11% margin, and for the second trading limit, the price limit is 12% with a 14% margin. The situation for the third trading limit is subject to the Zhengzhou Commodity Exchange's risk control management measures and relevant announcements [23]. Brands and Origins - There are four brands of silicon - manganese alloy, including Sheng Yan from Ningxia, Zuan Zuan Zuan from Inner Mongolia, Jin Sui from Guizhou, and Ji Yuan from Ningxia, along with their corresponding registered enterprises [26]. Delivery Warehouse and Premium/Discount - Different delivery warehouses in various locations have different premium/discounts per ton. For example, warehouses in Hubei have a - 50 yuan/ton discount, those in Jiangsu mostly have 0 yuan/ton, and those in Tianjin generally have a - 150 yuan/ton discount [29]