Dalian Commodity Exchange is launching trading of metallurgical coke futures in China on April 15.
On April 14, the state-owned exchange issued eight base prices for coke futures trading in a range of RMB 2,180-2,220/mt ($333.3-339.4/mt). The base prices in question are: J1109 - RMB 2,180/mt ($333.3/mt); J1110 - RMB 2,190/mt ($334.9/mt); J1111 - RMB 2,200/mt ($336.4/mt); J1112 - RMB 2,210/mt ($337.9/mt); J1201 - RMB 2,220/mt ($339.4/mt); J1202 - RMB 2,220/mt ($339.4/mt); J1203 - RMB 2,220/mt ($339.4/mt); and J1204 - RMB 2,220/mt ($339.4/mt).
The contracts will be settled by physical delivery into approved ports and coking facilities within the country.
The trading unit of each contract is 100 mt and will be settled through physical delivery to approved warehouses.
The contract specifies coke with maximums of 12.5 percent ash, 0.65 percent sulfur, 7.5 percent on the M10 abrasive resistance index, 28 percent on the coke reactivity index and 1.5 percent volatile matter.
The coke should also have at least 82 percent on the M40 crushing strength index and 62 percent coke strength after reaction. Penalties apply to material delivered below specifications.