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Coke Futures Contract of Dalian Commodity Exchange ("DCE")

Product

Metallurgical Coke

Trading Unit

100 MT/Lot

Price Quote Unit

CNY/MT

Minimum Tick Size

0.5 CNY/MT

Daily Price Limit Range*

4% of last settlement price

Contract Months

Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec

Trading Hours

9:00 - 11:30 a.m., 1:30 - 3:00 p.m., Beijing Time, Monday to Friday, and other trading hours announced by DCE

Last Trading Day

The 10th trading day of the contract month

Last Delivery Day

The 3rd trading day after the last trading day

Deliverable Grades

Coke Delivery Quality Standard of DCE (F/DCE J001-2011)

Delivery Point

The delivery warehouses of coke designated by DCE

Minimum Trading Margin*

5% of the contract value

Delivery Form

Physical delivery

Ticker Symbol

J

Listed Exchange

DCE

Note: DCE may adjust the daily price limit ranges and the trading margins of each contract according to market conditions. For details of current trading parameters of each contract, please see below website:

www.dce.com.cn/DCE/TradingClearing/Business%20Parameters/Trading%20Parameters/index.html

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

Coke Delivery Quality Standard of Dalian Commodity Exchange ("DCE") (F/DCE J001-2011)

1  Main content and applicable scope

1.1  The standard herein (the "Standard") stipulates the quality requirements, testing methods, inspection rules, transportation requirements, etc. for coke delivered at DCE.

1.2  The metallurgical coke as stated in the Standard refers to the metallurgical coke produced from coking coal through high temperature carbonization or other methods and used for blast furnaces iron-making.

1.3  The Standard applies to standard products and substitute products delivered under the coke futures contract of DCE.

2  Cited rules and standards

The provisions of the following documents are incorporated as the provisions of the Standard by reference. For those cited documents noted with dates, all of their following amendments (excluding corrections) and revised versions shall not be applied to the Standard; for those without noted dates, their latest versions shall be applied to the Standard.

GB/T 1996 Metallurgical coke

GB/T 1997 Sampling and Preparation of Samples for Coke

GB/T 2001 Methods for Determination of Proximate Analysis for Coke

GB/T 2005 Methods for Determination of Coke Breeze Content and Size Consist for Metallurgical Coke

GB/T 2006 Methods for Determination of Mechanical Strength for Metallurgical Coke

GB/T 2286 Methods for Determination of Total Sulfur for Coke

GB/T 4000 Methods for Determination of Reactivity and Strength after Reaction for Coke

GB/T 8170 Rules for Rounding-off of Numerical Values

GB/T 9977 Terminologies of Coking Products

3  Terms and definitions

Terms and definitions under GB/T 9977 shall be applied in this Standard.

4  Quality requirements

4.1  Quality requirements of standard products

Item

Standard Products (%)

Ash (Ad)

≤12.5

Sulfur (St,d)

≤0.65

Anti-Broken Strength (M40)

≥82

Wear Resistance (M10)

≤7.5

Coke Reactivity Index (CRI)

≤28

Coke Strength After Reaction (CSR)

≥62

Volatiles (Vdaf)

≤1.5

Coke Breeze (<25mm) Content

Load-in≤5.0

Load-out≤7.0

Size Range (≥25mm)

Load-in≥95.0

Load-out≥93.0

4.2  Allowances (premiums/discounts) for quality difference of substitute products

Item

Scope of Tolerance (%)

Premium/Discount (CNY/MT)

Ash (Ad)

>12.5 and ≤13.0

Each addition of 0.1%,discount of 3

>13.0 and ≤13.5

Each addition of 0.1%,discount of 5

>13.5 and ≤14.0

Each addition of 0.1%,discount of 10

Sulfur (St,d)

>0.65 and ≤0.70

Each addition of 0.01%,discount of 3

>0.70 and ≤0.75

Each addition of 0.01%,discount of 5

>0.75 and ≤0.80

Each addition of 0.01%,discount of 10

Strength after Reaction (CSR)

≥55 and <62

Discount of 50 if any item falls into the scope; multiple discounts would not be accumulated.

Reactivity (CRI)

>28 and ≤32

Crushing Strength (M40)

≥78 and <82

Abrasion Resistance (M10)

>7.5 and ≤8.5

4.3  Moisture content (Mt)≤5.0%; if Mt>5.0%, the exceeding moisture content shall be rounded to one decimal place for weight reduction (for example, if moisture content is 6.32%, the weight reduction shall be 1.3%).

4.4  For those do not meet the quality requirements for standard products on coke breeze content or size range when loaded out of the warehouse, the exceeding part of coke shall be rounded to one decimal place,

4.5  The designated warehouse shall compensate the exceeding part of breeze content or insufficient part of size range (rounded to one decimal place) calculated by the settlement price of the coke futures contract for the nearest month on the trading day immediately before the load-out day (for example, the coke breeze content shall not exceed 7% when loaded out of the warehouse, if the measured coke breeze content is 8.32%, after rounded to one decimal place, the corresponding compensation amount shall be 1.2% of the amount of payments for the goods.

5  Testing methods and inspection rules

5.1  Sampling and preparation of samples shall be subject to the standards in GB/T 1997.

5.2  Determination of coke breeze content and size consist shall be subject to the standards in GB/T 2005.

5.3  Determination of moisture, ash and volatiles shall be subject to the standards in GB/T 2001.

5.4  Determination of total sulfur content shall be subject to the standards in GB/T 2286.

5.5  Determination of crushing strength M40 and abrasion resistance M10 shall be subject to the standards in GB/T 1996.

5.6  Determination of reactivity and strength after reaction shall be subject to the standards in GB/T 4000.

5.7  Rules of rounding-off for numerical values shall be subject to the standards in GB/T 8170.

6  Transportation requirements

Coke products shall be shipped in clean train carriages, vehicle carriages, steamship holds or other means of transport.

7  Additional note

The Standard shall be subject to the interpretation of DCE.

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

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