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Thursday, March 8, 2012

Coking coal futures to list this year in China

Thursday, 08 Mar 2012

Xinhua quoted Mr Liu Xingqiang, general manager with the Dalian Commodity Exchange as saying that China is preparing to launch coking coal futures this year as well as planning to introduce more futures contracts for farm products.

Mr Liu said on the sidelines of the annual session of the National People Congress, China top legislature that coking coal futures will be listed on the DCE and are now awaiting regulatory approval.

He said that the coking coal futures, together with coke futures that were launched last year will help both steel mills and coal producers enhance risk management in seeking further development.

Mr Liu revealed that the DCE is mulling listing iron ore futures, but the exact timetable would require research and more favorable conditions. He said that "This would allow China to win more say in the international iron ore market."

Mr Liu added that the DCE is also hoping to see the listing of more agricultural commodities, including live pigs and eggs. He said that introducing futures contracts for more farm produce will help Chinese farmers and agricultural enterprises hedge risks against price fluctuations and stabilize their profits.

He also said China has only launched futures contracts for 13 agricultural commodities, a great potential in developing farm produce futures.

Source - Xinhua

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