Core Points - The Guangxi Futures Exchange announced risk control measures for the National Day and Mid-Autumn Festival holidays in 2025, effective from September 29, 2025 [1] Group 1: Futures Contract Adjustments - The price fluctuation limits for industrial silicon futures contracts will be adjusted to 10%, with speculative trading margin set at 12% and hedging margin at 11% [1] - The price fluctuation limits for polysilicon futures contracts will be adjusted to 11%, with speculative trading margin set at 13% and hedging margin at 12% [1] - The price fluctuation limits for lithium carbonate futures contracts will be adjusted to 10%, with speculative trading margin set at 12% and hedging margin at 11% [1] Group 2: Trading Resumption and Further Adjustments - Trading will resume on October 9, 2025, and if the largest contracts in each category do not experience a one-sided price limit with continuous quotes, the price fluctuation limits and margin standards will revert to pre-adjustment levels [1] - For lithium carbonate futures contracts, the price fluctuation limit will be adjusted to 9%, with speculative trading margin set at 11% and hedging margin at 10% [1] - In cases where the adjusted price fluctuation limits and margin standards differ from the current ones, the higher of the two will be implemented [1]

Group 1 - The core point of the article highlights the significant drop in the main contract for polysilicon on the Guangxi Futures Exchange, which hit the limit down at 47,750 yuan per ton, reflecting a decline of 9.0% [1]

Group 1: Black Materials Market - The black building materials market is experiencing a high-level retreat, with coking coal and coke prices dropping nearly 2% [1] - Iron ore prices have risen to a four-month high, supported by a decrease in global iron ore shipments and a decline in port inventories [3][5] - The demand for iron ore remains supported despite a decrease in pig iron production and high furnace operating rates, indicating a potential for continued price strength [5] Group 2: Polysilicon Market - Polysilicon prices have shown volatility, with a significant intraday increase of over 2%, currently reported at 43,200 yuan/ton [6] - The market anticipates potential policy changes regarding capacity exit, which could open up price levels to 45,000 yuan/ton if supported by various factors [8] - The industry is closely monitoring downstream demand and pricing dynamics, as well as upcoming policy meetings that may influence market sentiment [8][9] Group 3: Shipping and Logistics - The European shipping index saw an increase of over 8% due to geopolitical tensions in the Middle East, although it later stabilized to less than 2% [10] - The rise in the shipping index is also attributed to the recovery of the U.S. economy, which has boosted international trade demand [10] - Analysts expect the European shipping index to maintain a fluctuating upward trend, influenced by geopolitical developments and economic recovery [10]

智通财经7月10日电，广期所发布通知，经研究决定，自2025年7月14日结算时起，多晶硅期货合约涨跌 停板幅度调整为9%，投机交易保证金标准调整为11%，套期保值交易保证金标准调整为10%。 ...

Core Points - The Dalian Commodity Exchange has announced adjustments to the trading limits and margin standards for various futures contracts effective from April 29, 2025 [1] Group 1: Futures Contract Adjustments - The trading limit for industrial silicon futures will be adjusted to 8%, with speculative trading margin set at 10% and hedging margin at 9% [1][2] - The trading limit for polysilicon futures will be adjusted to 9%, with speculative trading margin set at 11% and hedging margin at 10% [1][2] - The trading limit for lithium carbonate futures will be adjusted to 10%, with speculative trading margin set at 12% and hedging margin at 11% [1][2] Group 2: Current and Future Standards - Current trading limits for industrial silicon are 6%, with speculative margin at 8% and hedging margin at 7% [2] - Current trading limits for polysilicon are 7%, with speculative margin at 9% and hedging margin at 8% [2] - Current trading limits for lithium carbonate are 8%, with speculative margin at 10% and hedging margin at 9% [2]