Shanghai Futures Exchange, Shanghai Gold Exchange: Raise margin requirements for gold, silver, and black series varieties, expand price limits for multiple varieties

The Shanghai Futures Exchange and the Shanghai Gold Exchange both issued notices to adjust the price fluctuation limits and trading margin ratios for various futures contracts. On January 28, the Shanghai Gold Exchange (referred to as "SGE") announced that, according to the relevant provisions of the "Risk Control Management Measures of the Shanghai Gold Exchange," it would adjust the trading margin levels and price fluctuation limits for silver deferred contracts. The relevant matters are notified as follows: Starting from the close of trading on January 30, 2026 (Friday), the margin level for the Ag (T+D) contract will be adjusted from 19% to 20%, and the price fluctuation limit will be adjusted from 18% to 19% from the next trading day. The Shanghai Gold Exchange stated that all members should enhance their risk prevention awareness, refine and implement risk emergency plans, remind investors to carry out risk prevention work, reasonably control positions, invest rationally, and ensure the stable and healthy operation of the market. On the same day, the Shanghai Futures Exchange also issued a notice stating that starting from the close of settlement on January 30, 2026 (Friday), the price fluctuation limits and trading margin ratios will be adjusted as follows: The price fluctuation limit for nickel futures contracts that have been listed will be adjusted to 11%, the trading margin ratio for hedged positions will be adjusted to 12%, and the trading margin ratio for general positions will be adjusted to 13%. The price fluctuation limit for aluminum oxide, lead, and zinc futures contracts that have been listed will be adjusted to 9%, the trading margin ratio for hedged positions will be adjusted to 10%, and the trading margin ratio for general positions will be adjusted to 11%. The price fluctuation limit for stainless steel, casting aluminum alloy, rebar, and hot-rolled coil futures contracts that have been listed will be adjusted to 7%, the trading margin ratio for hedged positions will be adjusted to 8%, and the trading margin ratio for general positions will be adjusted to 9%. The price fluctuation limits for gold futures contracts AU2606, AU2608, AU2610, AU2612, and AU2702 will be adjusted to 16%, the trading margin ratio for hedged positions will be adjusted to 17%, and the trading margin ratio for general positions will be adjusted to 18%. The price fluctuation limits for silver futures contracts AG2605, AG2606, AG2607, AG2608, AG2609, AG2610, AG2611, AG2612, and AG2701 will be adjusted to 16%, the trading margin ratio for hedged positions will be adjusted to 17%, and the trading margin ratio for general positions will be adjusted to 18%. Risk Warning and Disclaimer The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial conditions, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investing based on this is at your own risk