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SHANGHAI: China's securities regulator said on Tuesday it had given approval to the Dalian Commodity Exchange to launch coke futures, the latest commodity derivative to be launched in the country.
The annoucement, released by the China Securities Regulatory Commission on its website, confirmed a Reuters source-based report last week.
The Dalian Commodity Exchange has targeted to start trading the product in mid-April.
Coke, which is derived from coking coal, is used to produce steel. China is the world's top coke producer and exporter.
The trading of metallurgical coke futures will help provide a hedging tool, particularly for Chinese steelmakers to hedge some of their production costs.
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