Dalian Commodity Exchange (DCE) in China has announced that it will raise the daily fluctuation limit of prices from ±7 percent to ±8 percent and will increase the trading margin for iron ore futures from 8 percent to 10 percent as of the end of April 2 due to the approach of the Tomb-Sweeping Day holiday (April 4-6).
The DCE also stated that as of the start of trading on April 7 the daily price fluctuation limit and the trading margin for iron ore futures will be adjusted back to the previous levels.
Market analysts consider that the DCE’s move is aimed at helping maintain market stability approaching the holiday as the outbreak of the coronavirus has spread panic in the financial markets across the global market.