CHINA'S thermal coal futures officially started trading on the Zhengzhou Commodity Exchange (ZCE) last Thursday, after the China Securities Regulatory Commission (CSRC) gave the go-ahead in late August. Products being traded on screen are on a S,500kc NAR basis, and cover settlements dates from December this year through to November, 2014. In addition, the exchange calculates a 'steam coal index', which is a volume weighted average of all the 12 listed monthly products.
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