I. Delivery Unit
The delivery unit of a copper cathode futures contract is 25 metric tons. Delivery should be made in integral multiple(s) of the delivery unit.
II. Quality Standards
1. Copper cathodes to be delivered shall meet the quality standards for Grade A copper (CU-CATH-1) under GB/T 467-2010 or CU-CATH-1 under BS EN 1978:1998.
2. Shape and weight. Deliverable copper cathodes should be plate-shaped. Each copper cathode plate should weigh no less than 15 kg, and measure no less than 5 mm at the centerline.
3. Maximum tolerance is ±2% and maximum pound difference is ±0.1% for each standard warrant.
4. Copper cathodes underlying each standard warrant should consist of products of the same manufacturer, designation, registered trademark, quality grade, and shape, and secured into bundles of similar weight.
5. Copper cathodes underlying each standard warrant should be of a brand registered with the Shanghai International Energy Exchange (INE) or registered with the Shanghai Futures Exchange (SHFE) and approved by INE, and should be accompanied by a certificate of quality.
6. Standard warrants will be issued by the Designated Delivery Storage Facilities of INE after the commodities pass the required inspections.
III. Manufacturers and Registered Brands Certified by the Exchange
Copper cathodes to be used in physical delivery should be of a brand registered with INE or registered with SHFE and approved by INE. Registered brands and rates of brand premiums and discounts will be separately announced by INE.
IV. Designated Delivery Storage Facilities
Designated Delivery Storage Facilities and delivery premiums and discounts will be separately announced by INE.