Dalian coking coal tumbles as state planner calls for price stability

The National Development and Reform Commission summoned some coal producers on Wednesday, urging them to resume supply as soon as possible, and asked local authorities to strengthen supervision and keep coal prices within reasonable range.

The most-traded coking coal futures on the Dalian Commodity Exchange dropped as much as 5.4% to 2 273 yuan ($357.27) per tonne in morning trade. They ended down 2.5% at 2 342 yuan a tonne.

Thermal coal futures on the Zhengzhou Commodity Exchange also dived, shedding as much as 7.5% to 801 yuan a tonne, their lowest since December 3.

Coke prices on the Dalian bourse dipped 0.1% to 3 083 yuan per tonne.

Benchmark iron ore futures, however, recovered after range-bound trading in morning trade and jumped 3.2% to 822 yuan a tonne at close.