交易所出手：调整涨跌停板幅度！

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][2]. 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 adjusted to 16%, and the margin requirement will be set at 18% [4]. - On December 25, 2025, GFEX will implement changes to the minimum opening order quantity and trading limits for platinum and palladium futures contracts, increasing the minimum opening order quantity from 1 lot to 2 lots for specific contracts [6]. - Non-futures company members or clients will have a daily opening limit of 300 lots for both platinum and palladium futures contracts starting from December 29, 2025 [6][7]. Group 2: Market Conditions and Price Movements - On January 9, 2023, the main palladium futures contract rose over 6%, following two consecutive days of limit-down trading [12]. - The NYMEX palladium main contract increased by over 7%, reaching $1924.5 per ounce [14]. - 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-averse sentiment [16]. 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 caution is advised for short-term trading due to increased price volatility [17]. - The outlook for palladium prices is also positive, driven by supply shortages and favorable macro conditions, although investors are advised to trade cautiously in the short term [17].