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Blockboard Futures Contract of Dalian Commodity Exchange ("DCE")

Product

Blockboard

Trading Unit

500 Sheets/Lot

Price Quote Unit

CNY/Sheet

Minimum Tick Size

0.05 CNY/Sheet

Daily Price Limit Range*

4% of last settlement price

Contract Months

Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec

Trading Hours

9:00 - 11:30 a.m., 1:30 - 3:00 p.m., Beijing Time, Monday to Friday, and other trading hours announced by DCE

Last Trading Day

The 10th trading day of the contract month

Last Delivery Day

The 3rd trading day after the last trading day

Deliverable Grades

Blockboard Delivery Quality Standard of DCE (F/DCE BB002-2018)

Delivery Point

The delivery warehouses of blockboard designated by DCE

Minimum Trading Margin*

5% of the contract value

Delivery Form

Physical delivery

Ticker Symbol

BB

Listed Exchange

DCE

Note: DCE may adjust the daily price limit ranges and the trading margins of each contract according to market conditions. For details of current trading parameters of each contract, please see below website:

http://www.dce.com.cn/DCE/TradingClearing/Business%20Parameters/Trading%20Parameters/index.html

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

Blockboard Delivery Quality Standard of Dalian Commodity Exchange ("DCE") (F/DCE BB002-2018)

Main content and applicable scope

1.1  The standard herein (the "Standard") stipulates the quality requirements, inspection methods, sampling methods, determination rules, packaging requirements, etc. for blockboard delivered at DCE.

1.2  The Standard applies to standard products delivered under the blockboard futures contract of DCE.

Cited rules and standards

The provisions of the following documents are incorporated as the provisions of the Standard by reference. For those cited documents noted with dates, all of their following amendments (excluding corrections) and revised versions shall not be applied to the Standard; for those without noted dates, their latest versions shall be applied to the Standard.

GB/T 5849-2006 Blockboard

GB/T 5849-2016 Blockboard

GB 18580 Limit of Formaldehyde Emission of Wood-based Panels and Relevant Products of Indoor Decorating and Refurbishing Materials

Terms and definitions

3.1  Re-manufactured decorative veneer (commonly known as technical veneer): the veneer produced from rotary-cutting veneer or sliced veneer as the main raw material, with veneer toning, layering and glue synthesis to make wood beam, and then slicing, rotary-cutting or sawing.

3.2  Blockboard: A wood-based panel consisting of wood strips in the direction of the grain and glued on both sides with veneer or plywood. The panel can use re-manufactured decorative veneer.

3.3  Other terms and definitions: subject to GB/T 5849-2016.

Quality Requirements

4.1  Appearance quality

The specific requirements for double-sided sanding, panel and rear panel are as follows:

Quality Defect

Inspection Item

Requirement

(1) Live knot

Maximum single diameter/mm

25

(2) Partial intergrown knot, dead knot and bark pocket

Total number on the panel per square metre

4

Partial intergrown knot

Maximum single diameter/mm

20 (excluded if less than 5)

Dead knot

Maximum single diameter/mm

5 (excluded if less than 2)

Bark pocket

Maximum single length/mm

20 (excluded if less than 5)

(3) Crack

Number of strips per meter panel width

1

Maximum single width/mm

1.5

Maximum single length is /% panel length

10

(4) Wormhole, chain riveting hole and holes

Maximum single diameter/mm

4

Total number on the panel per square metre

4

(5) Discolour

Not exceeding panel area (%)

30

(6) Decay

Not allowed

(7) Dash board splicing seam 1

Maximum single width/mm

0.5

Maximum single length is /% panel length

10

Number of strips per meter panel width

1

(8) Dash board lamination

Maximum single width/mm

Not allowed

Maximum single length is /% panel length

(9) Core veneer cladding

Cladding of core veneer attached to dash board

Maximum single width/ mm

2

Number of strips per meter panel length

2

Maximum width between seams in other layers/mm

10

(10) Bubbling, lamination

Not allowed

(11) Depression, impression and bulge

Maximum single area /mm2

50

Total number on the panel per square metre

1

(12) Torn grain

Not exceeding /% panel area

1

Depth

Penetration not allowed

(13) Dash board sand permeability

Not exceeding /mm2 on the panel per square metre

Not allowed

(14) Glue penetration and other man-made pollution

Not exceeding /% panel area

0.5

(15) Sticking patch, strip patch

Total number of sticking patches or strip patches appropriately made and firmly filled on the panel per square metre

3

Not exceeding /% panel area

0.5

Gap not more than/mm

0.5

(16) Aluminium staples contained

Not allowed

(17) Board edge defect

Not more than /mm in the basic breadth

Not allowed

(18) Other defects

Considered based on the most similar defects

1. The dash board splicing seam shall be a seam visible to the naked eye.

4.2  Specification, dimension and deviation

4.2.1   Width and length (unit: mm)

Item

Requirement

Deviation

Width

1,220

0 and 5

Length

2,440

0 and 5

4.2.2   Thickness (unit:mm)

Item

Requirement

Deviation

Tolerance

Thickness

17

0.6 and 0.6

Thickness tolerance of each board ≤0.8

4.2.3   Other requirements

Index

Requirement

Verticality

≤1.0mm/m

Edge straightness

≤1.0mm/m

Flatness

Deviation≤10mm

Waveness

≤0.3mm

 

4.3  Board core quality

Item

Requirement

Space between joints of the adjacent core strips

The distance between the joints of both ends of the two adjacent rows of core strips along the length of the board 50mm

Flakiness ratio of core strips

5.0

Core strip side gap

1mm

Core strip end gap

3mm

Board core repair

Allow repair with glue using wooden strip, block and veneer

4.4  Physical and mechanical properties

Item

Unit

Index Value

Moisture content

%

6.0 and 14.0

Transverse static bending strength

MPa

15.0

Impregnation stripping property

mm

The total length of stripping and lamination of each side of each glue liner of the test specimen shall not be more than 25mm.

Surface bonding strength

MPa

0.60

4.5  Formaldehyde emission shall be subject to the standards in GB 18580

Inspection and determination

5.1  The inspection method, sampling methods and determination rules for board core quality indexes shall be subject to the relevant requirements of GB/T 5849-2006.

5.2  The inspection methods, sampling methods and determination rules for appearance quality, specification, dimension and deviation, physical and mechanical properties and formaldehyde emission shall be subject to the relevant requirements of GB/T 5849-2016.

The logo shall be on the side of the products, and the trademark, formaldehyde emission and grade and otherwise shall be clearly and firmly marked. The packaging shall protect the products from collisions, scratches and stains

Additional note

The Standard shall be subject to the interpretation of DCE.

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

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