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Liquefied Petroleum Gas Futures Contract of Dalian Commodity Exchange ("DCE")

Product

Liquefied Petroleum Gas

Trading Unit

20MT/Lot

Price Quote Unit

CNY/MT

Minimum Tick Size

1 CNY/MT

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 last but three trading day of the contract month

Last Delivery Day

The 3rd trading day after the last trading day

Deliverable Grades

Liquefied Petroleum Gas Delivery Quality Standard of DCE (F/DCE PG001-2020)

Delivery Point

The delivery warehouses of liquefied petroleum gas designated by DCE

Minimum Trading Margin

5% of the contract value

Delivery Form

Physical delivery

Ticker Symbol

PG

Listed Exchange

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.

Liquefied Petroleum Gas Delivery Quality Standard of Dalian Commodity Exchange ("DCE") (F/DCE PG 001-2020)

1.Scope 

1.1 The standard herein (the "Standard") stipulates the requirements for liquefied petroleum gas delivered at DCE such as the quality specifications, sampling and inspection and storage, etc.

1.2 The Standard applies to standard products and substitutes delivered under the liquefied petroleum gas futures contract of DCE.

2.Cited rules and standards

The provisions of the following documents are incorporated as the provisions of the Standard by citation. 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 11174-2011 Liquefied Petroleum Gas

SH/T 0233-1992 Method of Sampling Liquefied Petroleum Gas

3.  Terms and definitions

The terms and definitions herein shall be subject to the stipulations of the terms and definitions under GB 11174-2011 and its cited rules.

4.Technical requirements

4.1  Quality requirements for standard products

Item

Requirements

Density (15℃) / (kg/m3)

To be reported

Vapor pressure (37.8℃) / kPa

≤1380

Constituent

C3 hydrocarbon constituent (volume fraction) /%

(C3+C4) hydrocarbon constituent (volume fraction) /%

C5 and above hydrocarbon constituent (volume fraction) /%

20 and ≤60

95

3.0

Residue

Evaporated residue (mL/100mL)

Oil stain observation

0.05

Pass

Copper corrosion (40℃, 1h) / degree

≤1

Total sulfur content (mg / m3)

343

Sulfuretted hydrogen(satisfying one of the following requirements)

Lead acetate method

Chromatography / (mg / m3)

None

≤10

Free water

None

4.2 Allowances (premiums/discounts) for quality difference of substitute products

No.

Item

Premium/Discount (CNY/MT)

  1. 1

If satisfying all the following requirements:

  1. vapor pressure (37.8℃) ≤485 kPa
  2. constituent:

C3 hydrocarbon constituent (volume fraction) 5%

(C3+C4) hydrocarbon constituent (volume fraction) 95%

C5 and above hydrocarbon constituent (volume fraction) 2.0%

-150

  1. 2

If satisfying all the following requirements:

  1. vapor pressure (37.8℃) ≤1380 kPa
  2. constituent:

C3 hydrocarbon constituent (volume fraction) 5% and20%

(C3+C4) hydrocarbon constituent (volume fraction) 95%

C5 and above hydrocarbon constituent (volume fraction) ≤3.0%

-150

  1. 3

If satisfying all the following requirements:

  1. vapor pressure (37.8℃) ≤1430kPa
  2. constituent:

C3 hydrocarbon constituent (volume fraction) 95%

C4 and above hydrocarbon constituent (volume fraction) 2.5%

C5 and above hydrocarbon constituent (volume fraction) - no requirement

-100

4.3  If the substitutes that satisfy the requirements of items 1 and 3 of Article 4.2 above are delivered at the same time, which can be delivered at the same time within a single delivery unit, and the weight of the substitutes satisfying item 3 accounts for 20% (inclusive) - 50% (inclusive) of the total weight of the item 1 and item 3 substitutes, the premium / discount shall be 0 CNY/MT.

5. Sampling and inspection rules

5.1Sampling requirements shall be subject to the rules of SH/T 0233-1992.

5.2Inspection of the quality specifications shall be subject to the rules of GB 11174-2011.

6.Storage

Liquefied petroleum gas shall be stored in liquefied petroleum gas tanks or special cylinders for liquefied petroleum gas.

7.Additional note

The Standard shall be subject to the interpretation of DCE.

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