21 Dec 2009 13:39

Spot coke trading platform debuts in Tianjin

Shanghai. December 21. INTERFAX-CHINA - The new spot coke contract on the the Bohai Commodity Exchange (BCE) in Tianjin Municipality ended its first day of trading at RMB 1,650 ($241.64) per ton, up RMB 100 ($14.6) from its debut price of RMB 1,550 ($227) per ton on Dec. 18.

According to BCE's trading software, the first day's trading volume was low at 486 tons. The contract's close price was the highest trading price during the day.

The coke contract can be traded 24 hours a day and has a daily trading limit of 8 percent. In addition, each contract has a minimum delivery amount of 1,000 tons, with delivery fees of RMB 5 ($0.73) per ton.

The spot price of domestically produced coke in Shanxi Province, China's largest coke producing region, stood at RMB 1,620 ($237.25) per ton on Dec. 18.