Dalian Exchange Plans to Start Coking-Coal Futures in 2012, Official Says
China is planning to start a coking coal futures contract in the first half, Liu Xingqiang, general manager at the Dalian Commodity Exchange, told reporters.
The bourse is “steadily proceeding with the launch” and has been getting approval from regulators, Liu said today in Beijing where he’s attending the National People’s Congress.
Domestic prices of coking coal have more than doubled in the past six years as demand increased in the world’s fastest- growing major economy. The bourse is researching iron ore futures, he said. Iron ore and coking coal are used in steelmaking. Coking coal is more valuable than the grade used for electricity generation.
The exchange is aiming to introduce egg futures this year as the widely used item “can help the public increase its awareness of the commodities market”, Liu said.
To contact Bloomberg News staff for this story: Feiwen Rong in Beijing at email@example.com