The futures price limit system refers to a certain price range in which the transaction price of a futures contract in a trading day cannot be higher or lower than the settlement price of the previous trading day of the contract, and the quotation exceeding this range will be regarded as invalid and cannot be traded.

Under the futures price limit system, the settlement price of the previous trading day plus the maximum allowable increase constitutes the upper limit of the price increase of that day. It is called futures daily limit; The settlement price of the previous trading day MINUS the maximum allowable decline constitutes the lower limit of the price decline, which is called the futures daily limit.

Therefore, the limit of futures price fluctuation is also called the maximum fluctuation limit of daily price. There are two forms of price limit range: percentage and fixed quantity.

In terms of ups and downs, futures and stocks are the same. When demand exceeds supply, someone will be willing to buy at a higher price, which will lead to an increase in futures prices.

Shanghai Futures Exchange copper and aluminum 3% natural rubber 3% fuel oil 5%

Dalian exchange soybean 5%, corn 4%, soybean meal 4%

Zhengzhou exchange wheat 3% cotton 4%

The above is the normal range of price limit. If the price closes at the daily limit on the same day, the daily limit on the next day will be expanded.