(II) Price LimitsThe price limit of iron ore futures contract is 4% of the settlement price of the previous trading day. When the price limits are touched consecutively, the Exchange will raise the price limit.
See Table 10.Table 10: Levels of Margins
Trading SituationPrice LimitMargins
1st price limit4% Margin 5%
2nd price limit6%. Margin8%
3rd price limit8% Margin 10%
When Price Limits are Touched Consecutively (*Subject to the latest announcement of the Exchange) Trading DateMarginsThe tenth trading day of the month immediately preceding the delivery month10% of contract valueThe first trading day of the delivery month20% of contract valueLong and Short total open interest of contracts matured in a certain month (N)MarginsN ≤ 800,000 contracts5% of contract valueN > 800,000 contracts7% of contract valueTrading SituationPrice LimitMargins1st price limit4%5%2nd price limit6%8%3rd price limit8%10%16 When three price limits in the same direction are touched consecutively, the same risk control measures as those for coke and coking coal futures trading will be resorted to. When one-sided market in the same direction occurs and an iron ore futures contract touches the price limits on a trading day and the following two trading days (DN and DN+1 , DN+2 respectively), i.e., the price limits in the same direction are touched on three consecutive days, if DN+2 is the last trading day of the contract, then physical delivery is conducted; ifDN+3is the last trading day, then the trading on DN+3 continues at the price limit and level of margin of DN+2 . Except for the two circumstances above, on DN+2 the Exchange can decide and announce to take either of the two following measures according to market situation:Measure I: On DN+3 , the Exchange may take one or several of the following measures to avert market risks: increasing some or all members’ one-way or bilateral margins with the same or different proportions, suspending new positions of some or all members, adjusting price limits, restricting withdrawing capital, setting a deadline for liquidation, forced liquidation and so on.Measure II: The Exchange will automatically match the liquidation application, which is unmatched at the close of the market on Day N+2 at the price limit. The Exchange may also take other measures flexibly to well attend to the interests of the investors.
WOW SO YEP WHAT ASPRACING SAID.
so if I am understanding this, then limit up could be 10% tonight.
- Forums
- ASX - By Stock
- FMG
- Iron ore price
Iron ore price, page-10001
-
- There are more pages in this discussion • 44,407 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FMG (ASX) to my watchlist
|
|||||
Last
$16.20 |
Change
-1.500(8.47%) |
Mkt cap ! $49.87B |
Open | High | Low | Value | Volume |
$16.25 | $16.35 | $16.07 | $242.4M | 14.94M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 31685 | $16.20 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.22 | 100 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 30185 | 16.200 |
10 | 8864 | 16.190 |
24 | 50856 | 16.180 |
10 | 22721 | 16.170 |
17 | 79889 | 16.160 |
Price($) | Vol. | No. |
---|---|---|
16.230 | 5396 | 1 |
16.240 | 1543 | 1 |
16.250 | 13909 | 4 |
16.260 | 1541 | 1 |
16.270 | 1541 | 1 |
Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
Featured News
FMG (ASX) Chart |