TOCOM Aluminum

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TOCOM Aluminum futures trade on the Tokyo Commodity Exchange (TOCOM). They were launched on April 7, 1997[1].

Each TOCOM Aluminum futures contract represents 5,000 kilograms (5 tons) of deliverable grade aluminum, which is defined as aluminum of minimum 99.70% purity with maximum permissible iron content of 0.20% and silicon content of 0.10%, and its delivery date is set as the last day of each even month except December (the 24th for December). If the day is a holiday or a half-holiday, Delivery Day is advanced. TOCOM Aluminum futures contract also has a minimum delivery unit requirement of 25 tons (up to the Aug08 contract, 50 tons)

As of July 2008, each TOCOM Aluminum futures contract is subject to a margin rate of 112,500 yen for the spot month and 75,000 yen for the other months[2].

In 2007, TOCOM Aluminum futures traded 65,507 contracts (-58.5 percent YOY), and, in June 2008, traded 4,670 contracts (-10.6 percent YOY).



TOCOM Aluminum futures
Exchange Tokyo Commodity Exchange
Settlement Physically delivered
Contract Size 5,000 kg (5 tonnes) per contract
Pricing Unit 500 yen
Tick Value 500 yen
Contract Months All even months within a year (on the day when a new contract month is generated, there will be 6 even months starting from the next even month after the month which the said day belongs to)
Last Trading Day The third business day preceding the Delivery Day
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A Morning Session: 9:00 a.m. to 11:00 a.m.; Afternoon Session: 12:30 p.m. to 5:30 p.m.
Ticker Symbol N/A N/A
Price Limits N/A Daily Price Fluctuation Limits are determined based on the largest market price movement within a certain period of time and are set at a level where the probability that they will be reached is very low[3].

Notes

Resources

Tokyo Commodity Exchange Aluminum Futures Contract Specifications

References

  1. Aluminum Contract. Tokyo Commodity Exchange.
  2. Margin and Price Limit. Tokyo Commodity Exchange.
  3. Margin and Price Limit. Tokyo Commodity Exchange.