The Shanghai Futures Exchange (ShFE) said on Monday it would cut transaction fees on some nickel and tin futures contracts to just 1 yuan ($0.1533) per lot from September 7. The transaction fee on all nickel futures contracts except those with delivery in January, May and September, will be cut from 6 yuan per lot to 1 yuan per lot, the exchange said in a statement on its website. Fees for the intra-day closing of positions will be waived, it added.
Transaction fees on tin futures contracts, except for those with delivery in January, May and September, will be cut from 3 yuan per lot to 1 yuan per lot, the ShFE said.
The moves are the latest in a host of tweaks to trading rules adopted by Chinese exchanges over the past month but the ShFE's move bucks the recent trend of raising transaction fees on other commodities to reduce speculation. On August 24, the ShFE raised the intra-day transaction fee for hot-rolled coil steel futures for October delivery and January delivery.