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Dalian Commodity Exchange (DCE) recently held a work meeting to discuss the designated delivery warehouses for coke, coking coal and iron ore futures.
According to sources, DCE optimized its contract rules and delivery-related basic systems to better meet market demand in 2022. The exchange increased the number of delivery warehouses for coke, coking coal and iron ore products by six, bringing the total number to 61 (legal persons), covering major production and sales areas across China. This move aims to provide ample delivery resources and convenient delivery services for enterprises. The exchange saw a 71% year-on-year growth in physical delivery of coke, coking coal and iron ore futures, with a total of 3.39 million tons delivered in 2022. The prices of coke, coking coal and iron ore futures have effectively rebounded, with price correlation indicators of above 0.9. As for iron ore varieties, DCE introduced rolling delivery since the implementation of 2205 contract, with rolling delivery accounting for 57% of total delivery in 2022, further extending the “delivery window”. The exchange also promoted inspection-free delivery from warehouses, with all warehouse deliveries after the enactment of the 2205 contract which has been conducted free from inspection, thus effectively reducing delivery costs. In addition, the exchange supports agreement-based delivery and recently completed 100 lots of iron ore agreement delivery, meeting the differentiated delivery needs of enterprises.
