In remarkable movements, Coking Coal and Met Coke futures at the Dalian Commodity Exchange in China have soared noticeably of late, mainly due to the steel production in that country escalating to record highs.
Today, Coking Coal and Met Coke futures at the exchange rose to Yuan 216.50/MT and Yuan 890.50/MT, recording day-on-day increments of 3.93% and 2.44% respectively.
Steel production in China has gone up remarkably in that country. According to the lately released data by the National Bureau of Statistics of that country, production of steel went up by 5.7% year-on-year to 73.23 MnT in Jun’16 in that country.
During the Jan-Jun’17 period, 419.75 MnT of steel was produced in China, and that was up by 4.6% from the production during the same period of the preceding year.
A combination of high steel margins and low inventories have triggered substantial demand for Coking Coal and Met Coke in China.
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