According to the draft contract published in the last issue, the trading unit of lead futures is 25 tons per lot, the fluctuation range does not exceed 5% of the settlement price of the previous trading day, and the minimum margin is 8% of the contract value. According to the current spot market price of lead, the value of lead futures contract is about 430,000 yuan. According to the current margin level of commodity futures, the margin required for primary lead futures is 60,000 yuan.
It is understood that metal lead is widely used, including batteries, various alloy door locks, paints and coatings, of which 80% lead is used for lead-acid batteries. Since 200 1, China's lead consumption has increased at an average annual rate of 17%, reaching 3.9 million tons in 2009, accounting for 40% of the world.
Experts believe that the introduction of lead futures is conducive to optimizing the price formation mechanism of lead, guiding upstream and downstream enterprises to rationally arrange production and operation, and promoting the rational allocation of lead resources and the balance between supply and demand in the market. After lead futures are officially listed and traded, spot enterprises have a price for reference.