* Australian coking coal futures in Singapore up 43 pct
* China reopens after 2-day public holiday
* Shanghai rebar, Dalian iron ore also advance
By Manolo Serapio Jr
MANILA, April 5 Chinese coking coal futures
jumped more than 7 percent on Wednesday to a four-month high
amid worries over tighter supply after Cyclone Debbie slammed
into top supplier Australia, crippling exports of the
steelmaking raw material.
The spike in Chinese prices followed a 43 percent surge in
Singapore-listed futures of Australian premium coking coal over
the past two days. China's financial markets were shut on Monday
and Tuesday for public holidays.
Coking coal for May delivery on the Dalian Commodity
Exchange was up 7 percent at 1,357.50 yuan ($197) a
tonne by 0220 GMT, after having climbed as high as 1,363.50
yuan, its loftiest since Dec. 1.
A critical mountain pass on the railway connecting
Australia's biggest coking coal mines to ports has been hit by
landslides and buckled tracks caused by Cyclone Debbie, forcing
some producers, including top exporter BHP Billiton, to
declare force majeure on coal cargoes.
The line's operator, Aurizon Holdings, said it
would take around five weeks to finish repairs and that
alternative routes would be considered.
In a note to clients, analysts at ANZ Bank wrote, "reports
that mines are back up and running quashed earlier fears of a
complete shutdown of the industry. Port stocks are also expected
to buffer some of the impact of the shutdown of the rail
In terms of alternative supplies to Chinese steelmakers,
"there's U.S., Canada and potentially Mongolia," said one
The disruption may increase the negotiating power of coking
coal miners in second-quarter term contract dealings with
Japanese steelmakers, Argonaut Securities analyst Helen Lau
said, who earlier saw the price being settled at around $160 per
Australian premium coking coal futures on the Singapore
Exchange stood at $225 a tonne on Tuesday.
The strength in coking coal spread to other ferrous
The most-active rebar on the Shanghai Futures Exchange
rose 2.8 percent to 3,254 yuan a tonne. Dalian iron ore
advanced 1.8 percent to 566 yuan per tonne.
Dalian coke was up 3.7 percent at 1,960.50 yuan a
tonne, having touched a nearly five-month peak of 1,969 yuan
($1 = 6.8869 Chinese yuan)
(Reporting by Manolo Serapio Jr.; Editing by Kenneth Maxwell)