• Reduction of Spot Month Limit and Additional Amendments for Zinc Futures Contract

      • #
      • MSN04-07-17
      • Notice Date
      • 07 April 2017
      • Effective Date
      • 27 April 2017
    • Effective at the close of trading April 27, 2017 for the May 2017 contract month, the Commodity Exchange, Inc. (“COMEX” or “Exchange”) shall reduce the spot month position limit for Zinc futures from 200 to 150 lots, as noted in the table below and in Appendix C of COMEX Submission 17-127.

      Additionally, beginning with the May 2017 contract month, the Exchange will amend the Zinc futures (ZNC) contract to allow for the delivery of both duty paid and duty unpaid zinc meeting the specifications of the Zinc futures contract to be eligible for delivery against the futures contract. Currently, only duty paid zinc meeting the specifications of the Zinc futures contract is deliverable against the futures contract.

      As such, regular warehouses for the storage of zinc for delivery against the Zinc futures contract must be located in a Free Trade Zone (FTZ). All zinc meeting contract specifications and stored at regular warehouses, including duty paid and duty unpaid zinc, shall be reported into the Exchange as eligible for delivery against the futures contract beginning with the May 2017 contract month.

      For the full text of this notice, please see link attached below.