BEIJING — Chinese coking coal and coke futures on the Dalian Commodity Exchange jumped on Wednesday, boosted by restocking demand at steel mills as supply of the materials is relatively tight ahead of Lunar New Year holidays. The most actively traded coking coal futures on the Dalian bourse gained 3% to 2,330 yuan ($366.02) per tonne as of 0302 GMT. Benchmark iron ore futures on the Dalian exchange, for May delivery, jumped 2.7% to 735 yuan per tonne. Shanghai stainless steel futures, for February delivery, rose for the third straight session, up 2.5% to 18,025 yuan a tonne. China’s factory-gate prices rose 10.3% in December, slowing from November and failed market expectation following government measures to contain high raw material prices, data from the statistics bureau showed.

Source: The Star January 12, 2022 06:54 UTC