CZCE silicomanganese futures (SM): margin, price limit and fees
End-of-day open interest is not yet verified. Contract-level parameters are listed below.
Official CZCE parameters for trading day 26 Oct 2026 · CZCE source ↗
By contract
| Contract | Spec. margin | Price limit | Fee | Close-today fee | Position limit | Opening limit |
|---|---|---|---|---|---|---|
| SM611 | 10% | ±6% | CNY 2/lot | CNY 0/lot | 5,000 | 10,000 |
| SM612 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
| SM701 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
| SM702 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
| SM703 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
| SM704 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
| SM705 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
| SM706 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
| SM707 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
| SM708 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
| SM709 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
| SM710 | 7% | ±6% | CNY 2/lot | CNY 0/lot | 30,000 | 10,000 |
Fees as a share of turnover unless shown per lot. Position and opening limits in lots per contract. A contract near or in its delivery month can carry a higher margin, and the exchange may list no price limit for it.
Parameter history
Parameter values compared by trading day; dates are not notice effective times.
- Down price limit 12% → 6%SM710 · Compared with 2026-10-22
- Up price limit 12% → 6%SM710 · Compared with 2026-10-22
- Position limit Daily position limit: 2000 lots → Daily position limit: 0 lotsSM610 · Compared with 2026-10-20
- Speculative margin 7% → 10%SM611 · Compared with 2026-10-14
- Position limit Daily position limit: 30000 lots → Daily position limit: 5000 lotsSM611 · Compared with 2026-10-14
Notice timeline
Published notices mentioning this product, ordered by the exchange publication date.
Get an alert when CZCE changes silicomanganese margins or limits: CEC Pro.
Sources
Values are copied from the Zhengzhou Commodity Exchange's official daily trading and settlement parameters for 26 Oct 2026, with no adjustment. Hours: Futures Clock · Holidays: Markets Open Today. The exchange's own publication prevails.