BEIJING- Coking coal futures in China advanced on Thursday, rising as much as 1.4 percent in early trade, after the southwestern province of Guizhou ordered smaller mines of the steel-making ingredient to suspend production.
The Guizhou province has instructed coal mines with an annual capacity of less than 300,000 tons to halt production, after an accident killed 16 people, state media Xinhua said on Wednesday.
The most traded coking coal futures on the Dalian Commodity Exchange, for January 2020 delivery, jumped to as much as 1,260 yuan ($179.01) per ton on Thursday. They were up 0.5 percent at 1,249 yuan per ton by 0229 GMT.
Benchmark iron ore futures, for May 2020 delivery, rose 0.9 percent to 642 yuan per ton, recovering some of the losses recorded in the previous two sessions.
Coke futures on the Dalian exchange, for May 2020 delivery, firmed 0.8 percent to 1,874 yuan per ton. – Reuters