Chinese coking coal and coke futures gained more than 5% each on Wednesday, buoyed by supply concerns as coal imports from Mongolia were disrupted by the recent outbreak of the Omicron coronavirus variant.
Steel futures in China traded in a tight range on Monday, hit by fears over the new Omicron coronavirus variant, while coking coal and coke prices fell on a plunge in thermal coal futures.
Tsingshan Holding Group, the Chinese firm that shook the nickel world by rapidly boosting output in Indonesia, is among the latest entrants to the white-hot lithium sector, potentially making it a one-stop shop for electric vehicle (EV) battery ingredients.
Restrictions on scrap metal imports into China, Malaysia and other countries present a golden opportunity for recyclers in India, an industry official said on Wednesday.
Chinese coking coal futures surged more than 13% on Wednesday, boosted by improving sentiment in the property market and expectations of higher steelmaking demand at mills, although analysts are flagging risks on weak fundamentals.