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Lead futures set benchmark at 18,350 per ton

By Cai Muyuan (chinadaily.com.cn)
Updated: 2011-03-24 16:14
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Lead futures were listed on the Shanghai Futures Exchange Thursday. The benchmark price of the seven contracts on the first day was 18,350 yuan per ton, Securities Times reported.

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Lead futures set benchmark at 18,350 per ton Regulator approves lead futures contracts

The first batch of lead futures contracts includes PB1109, PB1110, PB1111, PB1112, PB1201, PB1202 and PB1203. The daily movement limit is set at 6 percent, and the first day trading movement limit is set at 12 percent, according to the newspaper.

The deposit for each contract is temporarily set at 11 percent of its value; the delivery commission is set at two yuan per ton.

The introduction of lead futures in China will enrich the existing system of domestic non-ferrous metals futures, the newspaper reported.