Thermal coal options trading launched in China's Zhengzhou
ZHENGZHOU - Thermal coal options started trading on the Zhengzhou Commodity Exchange (ZCE) in central China's Henan province Tuesday.
It is the sixth option issued by ZCE, which launched thermal coal futures trading in September 2013.
"The newly-launched options can supplement the thermal coal futures, helping more industrial and institutional customers in trading," said Xiong Jun, chairman of the ZCE board.
"It can also optimize the structure of market investors and enhance market resilience," Xiong said.
Thermal coal generally refers to the coal used for power generation, which is commonly seen in areas including thermal power generation and boiler combustion.
Thermal coal is closely related to the development of China's national and regional economy, the consumption of which accounts for about three-quarters of the country's total coal consumption, according to Zhang Hong, deputy secretary-general of China National Coal Association.
