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China's Zhengzhou exchange adjusts trading margins for ferroalloys contracts

reuters.com · 09/24/2021 05:40
China's Zhengzhou exchange adjusts trading margins for ferroalloys contracts

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  • China's Zhengzhou Commodity Exchange said it would adjust trading margins for its ferrosilicon and silicon manganese futures contracts to 10% from settlement on September 27 onwards.

  • Price limits for the contracts will also be adjusted to 9%, the exchange said in a statement on Friday.

  • Prices of ferrosilicon CESFcv1 and silicon manganese CESMcv1, raw materials used to make steel products, on the Zhengzhou exchange have soared to record highs amid power curbs as part of China's efforts to meet a 2060 carbon neutrality target.

  • Ferrosilicon futures have surged by more than 30% this month and were last at 14,236 yuan ($2,202.69) per tonne. Silicon manganese is currently up 26% in September, and was last at 10,876 yuan per tonne on Friday.


($1 = 6.4630 Chinese yuan renminbi)


(Reporting by Emily Chow and Min Zhang; editing by Jason Neely)

((emily.chow@thomsonreuters.com; +862120830020; Reuters Messaging: emily.chow.thomsonreuters.com@reuters.net))