FLASH: SHFE adjusts trading margin ratio, daily limits on steel futures

The Shanghai Futures Exchange (SHFE) is adjusting the trading margin ratios and daily price limits on the futures contracts of several steel products, with effect from the closing settlement on July 19, the exchange announced late on July 14.

Specifically, the trading margin ratio on the contracts for rebar, hot-rolled coils and stainless steel will be adjusted to 7%, and their daily price limits will be reduced to 5%, SHFE noted. In addition, the trading margin rates of wire rod futures contracts will be adjusted to 9% and its