Dalian coking coal rises 10% on tight China supply

Coking coal surged by 10% on Monday while coke rose to highest since 2013, amid tight supply conditions.

As per Reuters report, coking coal for January delivery on the Dalian Commodity Exchange soared 10% to hit the exchange-set ceiling of 1,516 Yuan a tonne, a record high. Coke climbed 6.7% to 1,996 Yuan a tonne.

The latest rise in prices is being attributed to the tightening supply conditions. Inventory of coking coal among major Chinese steel companies had dropped to nine days, an all-time low.