China’s coking coal futures attracts 51m tonnes of trades on first day

Dalian Commodity Exchange (DCE)’s coking coal futures contract started business on Friday March 22 and saw 50.9 million tonnes traded at the end of the day.

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The most-traded September contract settled at 1,276 yuan ($203.1) per tonne, down from the opening price of 1,280 yuan ($203.8) per tonne, according to DCE data.

A total of 97,386 lots remain open interest.

The lot size is 60 tonnes and the minimum delivery volume is set at 6,000 tonnes.

Coal specifications for settlement stipulate washed coking coal with 10-11.5% ash and 1.1-1.4% sulphur on a dry basis, 16-28% volatile matter on a dry ash-free basis, more than 50% coke strength after reaction (CSR), less than 8% total moisture, G value more than 65 and Y value less than 25.