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China coking coal futures fluctuate wildly on market intervention fears

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Dalian coking coal and coke futures moved in and out of positive territory on Tuesday, mirroring market unease over regulatory intervention in China to tame surging prices of coal in particular.The most-traded January coking coal on China's Dalian Commodity Exchange rose as much as 3.9per cent before fall

Dalian coking coal and coke futures moved in and out of positive territory on Tuesday, mirroring market unease over regulatory intervention in China to tame surging prices of coal in particular.

Coke - the processed form of coking coal and the primary reducing agent for key steelmaking ingredient iron ore, rose 3.3per cent to 3,800 yuan a tonne, after slumping 2.4per cent in early trade. "They will implement intervention measures on coal prices in accordance with the law, causing market panic," they said.

That followed the agency's statement https://www.reuters.com/article/china-coal-idUSB9N2R701N on Friday saying it would send teams of inspectors to major coal producing regions to probe the costs of coal production and circulation.

 

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