上期所、上金所双双发布通知

Core Viewpoint - The Shanghai Futures Exchange and the Shanghai Gold Exchange have announced adjustments to margin levels and price fluctuation limits for various futures contracts, effective from January 30, 2026 [1][3][4]. Group 1: Shanghai Gold Exchange Adjustments - The margin level for silver deferred contracts (Ag T+D) will increase from 19% to 20%, and the price fluctuation limit will rise from 18% to 19% [1]. Group 2: Shanghai Futures Exchange Adjustments - Nickel futures will have a price fluctuation limit set at 11%, with margin levels adjusted to 12% for hedged positions and 13% for general positions [3]. - Aluminum oxide, lead, and zinc futures will see a price fluctuation limit of 9%, with margin levels of 10% for hedged positions and 11% for general positions [3]. - Stainless steel, casting aluminum alloy, rebar, and hot-rolled coil futures will have a price fluctuation limit of 7%, with margin levels of 8% for hedged positions and 9% for general positions [3]. - Gold futures contracts (AU2606, AU2608, AU2610, AU2612, AU2702) will have a price fluctuation limit of 16%, with margin levels of 17% for hedged positions and 18% for general positions [3]. Group 3: Regulatory Measures - On January 28, 2026, 12 groups of accounts with actual control relationships exceeded trading volume limits on relevant contracts, leading to regulatory measures that restrict opening new positions for those clients [4].