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China securities regulator OKs Dalian coke futures

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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.

Copyright Reuters, 2011