In terms of trading limit, the maximum number of positions opened by non-futures company members or customers in the thermal coal futures 2302 contract is 50 lots per day. The open position in a single day refers to the sum of the open position bought by non-futures company members or customers on a single futures contract and the open position sold on that day. The maximum number of opening transactions per day in the actual control relationship account group is executed by a single customer. The number of open positions in hedging transactions and market-making transactions is not limited by trading limits.
In addition, for customers who are not members of futures companies or exceed the trading limit for the first time, Zhengshang Institute requires to report relevant information and take regulatory measures to suspend the opening of positions for not less than 5 trading days. If the accumulated trading days exceed the trading limit for 2 trading days, Zhengshang Institute will take regulatory measures to suspend the opening of positions for not less than 1 month. If the circumstances are serious, it shall be handled in accordance with the relevant provisions of the Measures for Handling Violations of Zhengzhou Commodity Exchange.
The demand of thermal coal market in China is largely influenced by the macroeconomic situation and the development of related downstream industries, and it is a typical demand-driven market. China's thermal coal consumption is concentrated in electric power, metallurgy, building materials, chemical industry and other industries. In recent years, the coal consumption of electric power industry is the most important part of the coal consumption of electric power. The coal consumption in metallurgical industry is increasing year by year, and the demand for thermal coal in chemical industry and building materials industry remains stable.
Power companies are the biggest consumers of hot coal in China. At present, the demand for thermal coal in China accounts for more than 60% of the total demand for thermal coal. The increase of demand for thermal coal in the future is the main factor for the increase of demand for thermal coal.
At present, there are five major power enterprises in China, namely China Huaneng Group Corporation, China Datang Corporation, China Guodian Corporation, china huadian corporation and China Power Investment Corporation. Power grid companies mainly include State Grid and China Southern Power Grid. Under the situation that power transmission, distribution and sales are still integrated, it is difficult for State Grid and China Southern Power Grid, as monopolistic buyers, to form real competition in power generation, let alone to implement real "competitive bidding" and form long-term contracts between power producers and power grid companies.
For many years, China's power generation energy has been dominated by thermal coal. With the rapid development of China's national economy, the demand for thermal coal in the power industry is increasing.