FLASH: GFEX sets PS2711 polysilicon trading limits

The Guangzhou Futures Exchange announced on November 11 that the polysilicon PS2711 contract will carry a transaction fee of 0.01% of traded value and an intraday closing fee of 0.025%. The minimum opening order is five lots, the minimum closing order is one lot and non-futures-company members or clients face a daily opening cap of 200 lots. The rules raise the cost of rapid trading and limit large single-day positions in the contract. Chinese polysilicon producers and consumers may face higher hedging friction, while tighter limits could reduce speculative turnover and make futures prices less responsive to short-term sentiment.