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

Product

Medium Density Fiberboard

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 (Note: the current daily price limit range is 5%)

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

Fiberboard Delivery Quality Standard of DCE (F/DCE FB001-2013)

Delivery Point

The delivery warehouses of fiberboard designated by DCE

Minimum Trading Margin*

5% of the contract value (Note: the current minimum trading margin is 7%)

Delivery Form

Physical delivery

Ticker Symbol

FB

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.

Fiberboard Delivery Quality Standard of Dalian Commodity Exchange ("DCE") (F/DCE FB001-2013)

Main content and applicable scope

1.1  The standard herein (the "Standard") stipulates the quality requirements, testing methods, inspection rules, packaging and transportation requirements, etc. for fiberboard delivered at DCE.

1.2  The Standard applies to standard products and substitute products delivered under the fiberboard 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 11718 Medium Density Fiberboard

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

Terms and definitions

Subject to the terms and definitions in GB/T 11718 and GB 18580.

Quality requirements

4.1  The surface shall be sanded, and the appearance shall meet the standards for high-class quality products in GB/T 11718.

4.2  Size of surface

Unit: mm

Premium/Discount (Unit: CNY/Piece)

Breadth

1,220

-

Length

2,440

-

Thickness

Standard products: 15

0

Substitute products: 18

6

4.3  Size deviation, density and its deviation and moisture level shall meet the standards in GB/T 11718.

4.4  Physical mechanics properties shall meet the standards for medium density fiberboards used in furniture in GB/T 11718.

4.5  Limit of formaldehyde emission

Indicator of Formaldehyde
Emission Limit

Standards

Testing Method

Limit

Premium/Discount
(Unit: CNY/Piece)

E1

GB/T 11718

Perforation

8 mg/100g

-

E2

GB 18580

Perforated Extraction

≤30 mg/100g

-30

Sampling, measurement, testing and determination work shall be subject to the requirements in GB/T 11718, while sampling of physicochemical properties shall be subject to the quality supervision standards of products that have passed quality check.

Marking, packaging, transportation and storage shall be subject to the standards in GB/T11718.

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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