1. Futures contracts have a certain term, and these figures represent Shanghai aluminum futures contracts with different terms. Shanghai aluminum 2003 refers to the Shanghai aluminum futures contract due in March 2020, which is the contract delivered this month; Shanghai Aluminum 2005 is a Shanghai aluminum futures delivered in May 2020, while Shanghai Aluminum 1907 and Shanghai Aluminum 200 1 represent Shanghai aluminum futures delivered in July 20 19 and June 2020, respectively, and the delivery has been completed. Shanghai aluminum represents aluminum futures, the first two of the last four represent years, and the last two represent months. Similarly, Shanghai Aluminum 2 10 1 is an aluminum futures contract that expires on 202 1, and Shanghai Aluminum 2 102 is an aluminum futures contract that expires on February 20021.
2. Each futures product will list several or even a dozen futures contracts at the same time. As far as the futures products that have been launched in China are concerned, most of the contracts are continuous, just like Shanghai Aluminum. The continuous price of Shanghai aluminum is usually the price in the active month, that is, the main contract price linkage. Shanghai Aluminum 090 1 refers to the aluminum contract delivered in June 2009, and so on. The reason for this classification is that futures are traded in futures contracts, 1 artificially specifies different delivery months, which helps traders to trade futures contracts in different periods, because different physical supply and demand situations in different periods will reflect different futures prices, so they can choose different contracts. For the hedging counterparty, it is more practical to divide the contract into different months, because it is related to whether the hedging time in the spot market and the futures market is basically the same.
3. Real-time quotation is viewed on trading software. 1. The variety code of aluminum futures listing and previous issue is 5 tons/lot of al trading unit. The lowest fluctuation 5 yuan/ton is the calculation formula of 25 yuan margin: real-time price * contract unit * margin ratio. The standard margin of primary exchange is about 20000 * 5 * 9% = about 9000 yuan, 9: 00- 165438+. In the afternoon 1:30-3:00, the trading time in the evening is 2 1:00-0 1:00. 2. The aluminum futures account process is as follows: 1. At least 18 years old, make an appointment with the account manager in advance. 2. Prepare your account opening materials: ID card and bank card. 3.