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Coking coal rises 3.2% in night session; coke up 2.4%

Coking coal closed up about 3.2% in the night session, leading gains among Chinese commodity futures. Coke rose about 2.4% and PVC added about 1.5%, while iron ore ended roughly flat. Fuel oil was the laggard, falling about 1.8%.

Original source

AI take

The split within the steel chain is the notable signal: coking coal and coke gaining while iron ore stayed flat suggests the move is concentrated in the coke side rather than a broad restocking story across steel inputs. That distinction matters for anyone tracking Chinese industrial demand, since iron ore is the cleaner read on steel output while coking coal and coke are more exposed to coking margins and supply-side constraints. Whether iron ore follows the coal complex higher is the open question; a persistent gap would point to something narrower than a demand recovery.

Generated by AI for reference only.

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