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

Chinese coke futures up by 4pct

Wednesday, 24 Aug 2011

It is reported that coke main contract 1201 opens low at CNY 2,245 today and fluctuate downward around CNY 2,000. The afternoon session closes at CNY 1,977 off 3.90%.

Spot coke market performs stably with low stockpile. The second grade met coke prices in north and east market stand unchanged in the range of CNY 1900 per tonne to CNY 2040 per tonne.

While steel mills in Northeast China begins storage for winter, pulling up coking coal inventory. The railway capacity has to be shared with heating coal and food which will place more strains on coking coal and coke transportation.

(sourced MySteel)

Dalian Commodity Exchange to launch coke futures

Mar13,2011 |Xinhua

China's Dalian Commodity Exchange will launch coke futures trading this year to provide new hedging tools for the industry, Liu Xingqiang, general manager of the exchange, told reporters in Beijing on Mar 9.

The listing will help to promote a more regulated mechanism in the industry. Preparation work for the trading is underway, he said.

The coke industry plays an important role in China's booming economy, with annual output and consumption both above 300 million tonnes in recent years, according to Liu.

The plan comes as China pledges to advance the development in the futures and financial derivatives market in the five years to 2015.