Product

Cotton

Trading Unit

5 metric tons/lot (conditioned weight)

Price Quotation

Chinese yuan (RMB) per metric ton

Minimum Price Fluctuation

RMB 5 yuan/metric ton

Price Limit

±4% of the settlement price of the previous trading day and further subject to the price limit provisions of the Risk Control Rules of Zhengzhou Commodity Exchange

Minimum Trading Margin

5% of contract value

Delivery Months

January, March, May, July, September, and November

Trading Hours

9:00-11:30 and 13:30-15:00(Beijing time) and other trading hours prescribed by Zhengzhou Commodity Exchange

Last Trading Day

10th trading day of the delivery month

Last Delivery Day

13th trading day of the delivery month

Grade and Quality

Benchmark deliverable: Grade 3128B domestic cotton under the National Standard of the People’s Republic of China “Cotton Chapter 1: Saw Ginned Upland Cotton” (GB1103.1-2012) with U3 length uniformity, S3 strength, and P2 preparation

Substitute deliverables: See the Detailed Rules of Zhengzhou Commodity Exchange for Cotton Futures

Premiums and discounts for substitute deliverables will be separately established and announced by Zhengzhou Commodity Exchange

Delivery Point

Delivery warehouses designated by Zhengzhou Commodity Exchange

Delivery Method

Physical Delivery

Product Code

CF

Listing Exchange

Zhengzhou Commodity Exchange