China takes more steps to cool futures trading

摘要

China’s commodity exchanges have taken further steps to cool trading in steel and iron ore futures, which is helping drive physical prices higher. The Shanghai Futures Exchange said on 28 November it will limit position sizes to 8,000 lots for non-members in the January and May steel rebar contracts, down from a limit of 10,000 lots set on 10 November. A lot is 10t, meaning the new position limit is 80,000t.