China's Dalian Commodity Exchange (DCE) officially launched coking coal options on Friday, marking a new step in enhancing futures market services for the coal-coke-steel industrial chain and the real economy.
As a fundamental raw material for the steel industry, coking coal plays a vital role in ensuring the steady development of steel and related sectors. The listing of coking coal options signals further improvement in China's derivatives market service system.
"After the listing of coking coal options, these instruments will synergize with the existing coking coal futures, coke futures, and iron ore futures and options. This will further improve the risk management tool system for the coal-coke-steel industrial chain, provide more refined and diverse risk management solutions for enterprises, and safeguard their stable and sound operations," said Hu Gangxu, director of the futures derivatives department of Dalian Commodity Exchange.
China is the world's largest producer and consumer of coking coal. Its prime coking coal output accounts for more than 50 percent of global production, while consumption represents over 60 percent of the world total.
China launches coking coal options
U.S. President Donald Trump said Tuesday he will extend the two-week ceasefire with Iran that was set to expire on Wednesday night (midnight GMT Tuesday).
"Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal," Trump wrote on Truth Social.
The U.S. president said he will "extend the ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other."
The U.S. military will continue the blockade against Iran and "remain ready and able," according to Trump.
Iranian Foreign Minister Seyed Abbas Araghchi said in a post on X Tuesday that the U.S. blockade of Iranian ports is "an act of war and thus a violation of the ceasefire" and attacking Iranian merchant ships and detaining their crew members were even more serious violations.
"Iran knows how to neutralize restrictions, how to defend its interests, and how to resist bullying," Araghchi wrote in his post.
Mehdi Mohammadi, an advisor to Iran's parliament speaker Mohammad Bagher Ghalibaf, also said the U.S. blockade must be met with a military response, dismissing Trump's ceasefire extension announcement as "meaningless".
"Extending the ceasefire by Trump has no meaning. The losing side cannot dictate terms. Continuing the blockade is no different from bombing and must be met with a military response. Moreover, any extension of the ceasefire by Trump is certainly a way to buy time for a surprise attack. Now is the time for Iran to take the initiative," Mohammadi posted on X.
Trump extends ceasefire; Iran vows military response to naval blockade
