China’s Zhengzhou exchange limits open positions for thermal coal contracts
China’s Zhengzhou Commodity Exchange said on Thursday it would limit the number of open positions of non-futures company members for its thermal coal contracts, beginning from night trading on Oct. 8.
The maximum number of open positions for contracts delivered between October 2021 to March 2022 is limited to 100 lots per day. For contract deliveries from April to September 2022, the maximum number of open positions is limited to 500.
Prices of thermal coal futures CZCcv1 have surged in recent weeks on the back of a supply crunch, with the most traded contract hitting record highs of 1,408 yuan per tonne and gaining nearly 60% this month.
Source: Reuters (Reporting by Emily Chow; Editing by Edmund Blair)