As of December 11, the transaction fee for rebar futures contract RB2405 (for May next year) will be decreased from three ten-thousandths to one ten-thousandth, Shanghai Futures Exchange (SHFE) has announced.
The rebar futures contract RB2405 has become the main rebar contract since December 7, while the move in question aims to stimulate transaction activities. Previously, RB2401 was the rebar contract with the largest transaction volumes, with the month of delivery in January next year.
In this context, the main futures price for iron ore at Dalian Commodity Exchange has increased by 2.39 percent today, December 8, to RMB 963.5/mt.
