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Iron Ore 62% Fe, CFR North China (Platts) Futures Contract Specs

Product Symbol PIO
Venue CME ClearPort, Open Outcry (New York)
(All Times are New York Time/ET)
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. CT)
Contract Size 500 dry metric tons
Price Quotation U.S. Dollars and cents
Minimum Fluctuation $0.01 per dry metric ton
Floating Price The floating price for each contract month is equal to the average price calculated for all available price assessments published for "Iron ore fines 62% Fe - CFR China Port" for that given calendar month by Platts.
Termination of Trading Trading terminates on the last business day of the contract month. Business days are based on the Singapore Public Holiday calendar. If the last business day of the contract month is a Singapore public holiday, the last trade date will be the business day immediately preceding the holiday.
Listed Contracts Current year plus the next two calendar years
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 925
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.