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Appendix to Standard Bitumen Futures Contract of Shanghai Futures Exchange

 

 

I.       Delivery Unit

The contract size for Bitumen futures is 10 metric tons per lot; the delivery unit is 10 metric tons per warrant. Delivery shall be made in integral multiples of the delivery unit.

II.      Quality Standards

1.       The #70 Grade-A road bitumen used for physical delivery shall meet the technical specifications set forth in the Bitumen Futures Delivery Rules of the Shanghai Futures Exchange (Trial).

2.       Bitumen underlying each warrant shall be registered commodities approved by SHFE (i.e., bitumen of a registered brand or manufacturer approved by SHFE and meeting applicable quality specifications), accompanied by corresponding certificate of quality.

3.       Warrant shall be issued by a Designated Delivery Warehouse or Designated Bitumen Factory only after its inspection and acceptance of the commodity according to applicable rules.

III.    Registered Commodities Recognized by SHFE

Bitumen used for physical delivery shall be registered commodities approved by SHFE. The registered commodities and the standards of premiums and discounts will be separately specified and announced by SHFE.

IV.     Designated Delivery Warehouses and Designated Bitumen Factories

Designated Delivery Warehouses and Designated Bitumen Factories will be specified and separately announced by SHFE.

 

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