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Coking coal to list this year in China

(Xinhua)

10:36, March 07, 2012

BEIJING, March 7 (Xinhua) -- China is preparing to launch coking coal futures this year, as well as planning to introduce more futures contracts for farm products, said Liu Xingqiang, general manager with the Dalian Commodity Exchange (DCE).

Coking coal futures will be listed on the DCE and are now awaiting regulatory approval, Liu said on the sidelines of the annual session of the National People's Congress, China's top legislature.

The coking coal futures, together with coke futures that were launched last year, will help both steel mills and coal producers enhance risk management in seeking further development, Liu.

Liu revealed that the DCE is mulling listing iron ore futures, but the exact timetable would require research and more favorable conditions.

"This would allow China to win more say in the international iron ore market," he said.

The DCE is also hoping to see the listing of more agricultural commodities, including live pigs and eggs, Liu added.

Introducing futures contracts for more farm produce will help Chinese farmers and agricultural enterprises hedge risks against price fluctuations and stabilize their profits, according to Liu.

China has only launched futures contracts for 13 agricultural commodities, a great potential in developing farm produce futures, said Liu.

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