China's commodity futures market saw broad gains on Tuesday, with coking coal futures surging nearly 8% to hit a new high for the year and enter a technical bull market. This sharp rise followed a verification notice reportedly issued by China's National Energy Administration, which ordered all coal mines exceeding their production capacity to suspend operations for rectification. Other commodities also advanced, including Shanghai silver by 1.7%, nickel by 1.4%, gold by 0.9%, copper by 0.8%, tin by 0.6%, aluminum by 0.4%, zinc by 0.3%, iron ore by 0.9%, and steel rebar by 0.4%. Notably, polycrystalline silicon futures extended their intraday rally to 7%, reaching an all-time high. The CSI 300 index reached its highest level of the year, with monthly turnover averaging just under 1.5 trillion yuan, the highest monthly average since the DeepSeek period. The CSI Coal Index also rose nearly 7%, reflecting strong market momentum amid regulatory actions.
🇨🇳#CHINA'S CSI #COAL INDEX UP NEARLY 7%. https://t.co/7frQH7hlb8 https://t.co/yhoHYe1Qjz https://t.co/SfrDUkRKqS
The National Energy Administration has reportedly issued a verification notice requiring all mines that have exceeded production capacity to suspend operations for rectification. Coking coal prices have surged by 8%, hitting the daily limit.
🇨🇳MARKET RUMOR SAID #CHINA'S NATIONAL ENERGY ADMINISTRATION HAS ISSUED A VERIFICATION NOTICE, ORDERING ALL #COAL MINES THAT HAVE EXCEEDED THEIR PRODUCTION CAPACITY TO SUSPEND PRODUCTION FOR RECTIFICATION. COKING COAL JUMPS BY 8% TO LIMIT UP. https://t.co/iBgG5W7YTh https://t.co/xEiBDhZvji