Published On: Tue, Mar 16th, 2010

Lawmaker Proposes Coal Coke Futures In Coal-rich China Province

China should set up a coal and coke futures exchange in Taiyuan, capital city of the coal-rich Shanxi Province, as soon as possible, a lawmaker said Friday March 12.

Launching coal and coke futures would allow investors to use arbitrage to preserve value of coal and coke in the production, transportation, and sales process, and would push China’s coal industry to develop in a sustainable way, said Zheng Jianguo, head of Shanxi’s provincial department of finance.

According to Zheng, a deputy to the National People’s Congress, no other countries in the world have so far launched coke futures, but “it should be easy to form standardized contracts for the staple raw material for its active trade and frequent price fluctuations,” he said.

He said Shanxi Province has “incomparable” advantages in setting up a futures exchange for coal and coke, as the province’s coke production accounts for 40 percent of the country’s total, and 18 percent of the world’s total.

Source: Xinhua News

About the Author

-

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

IRP Journal

IRP Journal

Sponsor

OPINION POLL

Poll results are published in our Weekly Newsletter -->
subscribe
All Rights Reserved WIld Wild Web Limited