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.
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|
|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.|
|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.|