The Shanghai Futures Exchange (SHFE) has issued a notice regarding operational arrangements for the 2026 Mid-Autumn Festival and National Day holidays, with key changes to trading schedules and risk parameters taking effect later this month.

According to the exchange's announcement, there will be no night trading session on Thursday, September 24, 2026. The market will be closed from Friday, September 25 through Sunday, September 27. Regular trading will resume from Monday, September 28 through Wednesday, September 30, with no night session on the evening of Wednesday, September 30. The exchange will then close for the National Day holiday from Thursday, October 1 through Wednesday, October 7. Trading will resume on Thursday, October 8, with a call auction period scheduled between 08:55 and 09:00 for all futures and options contracts, and night trading will be restored that same evening.

Starting from the settlement and closing of Wednesday, September 23, 2026, price fluctuation limits and trading margin ratios will be adjusted as follows: For fuel oil futures, the daily price limit will be set at 16%, with hedging position margin at 17% and general position margin at 18%. The FU2610 and FU2611 fuel oil contracts will see their price limit adjusted to 18%, with hedging margin at 19% and general margin at 20%. For petroleum asphalt and butadiene rubber futures, the price limit will be adjusted to 12%, with hedging margin at 13% and general margin at 14%.

From the settlement and closing of Tuesday, September 29, 2026, further adjustments will apply. Copper, aluminum, zinc, lead, alumina, and natural rubber futures will see price limits adjusted to 9%, with hedging margin at 10% and general margin at 11%. Nickel and wire rod futures will have price limits adjusted to 10%, with hedging margin at 11% and general margin at 12%. Tin futures will see price limits adjusted to 12%, with hedging margin at 13% and general margin at 14%. Aluminum alloy futures will have price limits set at 8%, with hedging margin at 9% and general margin at 10%. Gold and silver futures will see price limits adjusted to 16%, with hedging margin at 17% and general margin at 18%. Notably, silver futures contracts AG2610 through AG2704 will maintain a price limit of 20%, with hedging margin maintained at 21% and general margin at 22%, while silver contracts AG2705 and AG2706 will maintain a price limit of 17%, with hedging margin at 18% and general margin at 19%.

Additionally, rebar, hot-rolled coil, stainless steel, pulp, and offset printing paper futures will see price limits adjusted to 7%, with hedging margin at 8% and general margin at 9%. The FU2610 and FU2611 fuel oil contracts will have their price limits further adjusted to 20%, with hedging margin at 21% and general margin at 22%. Should circumstances described in Article 13 of the SHFE Risk Control Management Measures arise, further adjustments will be made on top of the aforementioned levels.

Following the resumption of trading on Thursday, October 8, 2026, from the settlement of the first trading day without a unilateral market condition, most futures contracts will revert to their pre-holiday price fluctuation limits and margin ratios. However, several contracts will maintain adjusted levels, including copper, aluminum, zinc, lead, and alumina contracts from 2610 to 2702 maintaining a 9% price limit with hedging margin at 10% and general margin at 11%; nickel contracts NI2610 through NI2703 maintaining a 10% price limit with hedging margin at 11% and general margin at 12%; tin contracts SN2610 through SN2703 maintaining a 12% price limit with hedging margin at 13% and general margin at 14%; aluminum alloy contracts AD2610 through AD2702 maintaining an 8% price limit with hedging margin at 9% and general margin at 10%; silver contracts AG2610 through AG2704 maintaining a 20% price limit with hedging margin at 21% and general margin at 22%, and AG2705 through AG2706 maintaining a 17% price limit with hedging margin at 18% and general margin at 19%; fuel oil contract FU2611 maintaining a 20% price limit with hedging margin at 21% and general margin at 22%; and wire rod futures maintaining a 10% price limit with hedging margin at 11% and general margin at 12%.

Other matters concerning price fluctuation limits and trading margins will be handled in accordance with the SHFE Risk Control Management Measures and relevant business rules. All relevant entities are urged to strengthen risk prevention efforts to ensure stable market operations and smooth deliveries during the holiday period. The exchange has also published an appendix table detailing the adjustments to price fluctuation limits and margin ratios for related products during the holiday period, with specific contract levels subject to the official rules and notice text.