Core Viewpoint - The Dalian Commodity Exchange has announced adjustments to the price limit and margin levels for various futures contracts around the 2026 Spring Festival holiday, aimed at managing market risks effectively [2][3]. Group 1: Adjustments Before the Holiday - From February 12, 2026, the price limit for iron ore futures will be adjusted to 11%, with a margin level of 13% [2] - The price limit for coke and coking coal futures will be set at 10%, with the margin for coke remaining unchanged and that for coking coal adjusted to 14% [2] - For soybean and corn-related futures, the price limit will be adjusted to 8%, with a margin level of 9% [2] - Other commodities such as palm oil, ethylene glycol, and liquefied petroleum gas will have a price limit of 10% and a margin level of 11% [2] - The price limit for corn starch and japonica rice futures will be set at 7%, with a margin level of 8% [2] - The price limit for live pigs and logs will be adjusted to 8%, with a margin level of 10% [2] - The price limit for pure benzene futures will be set at 11%, with a margin level of 12% [2] - Other futures contracts will maintain their existing price limits and margin levels [2] Group 2: Adjustments After the Holiday - Trading will resume on February 24, 2026, with the price limits and margin levels for major contracts reverting to pre-holiday standards [3] - For contracts that meet the criteria for adjustment, the higher value between the specified limits will be applied [3] - Member units are advised to enhance risk management and ensure market stability [3]

Core Points - The Dalian Commodity Exchange announced adjustments to the price limit and margin levels for various futures contracts before and after the 2025 National Day and Mid-Autumn Festival holidays [1][2] Group 1: Adjustments Before the Holidays - From September 29, 2025, the price limit for iron ore futures will be adjusted to 11%, with a margin level of 13% [1] - The price limit for coking coal futures will also be set at 11%, with a margin level adjusted to 15% [1] - For soybean futures (both No. 1 and No. 2), the price limit will be 8%, and the margin level will be 9% [1] - Other commodities such as palm oil, eggs, and ethylene glycol will have a price limit of 9% and a margin level of 10% [1] - The price limit for corn starch and japonica rice will be set at 7%, with a margin level of 8% [1] - The price limit for live pigs will be 9%, with a margin level of 11% [1] - The price limit for pure benzene will be adjusted to 10%, with a margin level of 11% [1] - For fiberboard and plywood, the price limit will be 7%, with the margin level remaining unchanged [1] Group 2: Adjustments After the Holidays - Trading will resume on October 9, 2025, with the price limits and margin levels for various futures contracts returning to pre-holiday standards [2] - This includes iron ore, coking coal, and various agricultural products, which will revert to their previous price limits and margin levels [2] Group 3: Comparison of Risk Control Parameters - A detailed comparison table outlines the changes in price limits and margin levels for each commodity before, during, and after the holiday period [3][4] - The adjustments reflect a strategic response to market conditions and risk management practices as per the Dalian Commodity Exchange's regulations [4]