BEIJING, June 24 (Reuters) - Chinese coke futures jumped to a six-week high on Thursday, rising nearly 4% after spot market prices increased on fears of tighter supply amid environmental curbs.
Prices for coke bought by several mills in Hebei gained 120 yuan per tonne, while some steelmakers in Shandong had also agreed to the increase, analysts with SinoSteel Futures wrote in a note.
The most-actively traded coke futures on the Dalian Commodity Exchange rose as much as 3.8% to 2,836 yuan ($437.80) per tonne, the highest since May 13. By 0300 GMT, they were up 2.0% at 2,787 yuan.
Coking coal futures on the Dalian bourse extended gains as well, rising 2.0% to 2,049 yuan a tonne.
The rise in the steelmaking ingredients came as China recently tightened safety inspections, while environmental-related regulations also curbed production.
However, SinoSteel Futures warned of investment risks.
"The continuing increase in raw material prices is not in line with current policy on stabilising prices and ensuring supplies, (investors) should cautiously chasing gains," according to the note.
Benchmark iron ore futures, for September delivery, rose 1% to 1,166 yuan a tonne.
Spot prices of iron ore with 62% iron content for delivery
to China
Construction rebar on the Shanghai Futures Exchange , for October delivery, increased 1% to 4,948 yuan per tonne.
Hot rolled coils, used in cars and home appliances, edged 0.4% higher to 5,160 yuan a tonne.
Shanghai stainless steel futures, for August delivery, inched up 0.2% to 16,420 yuan per tonne. ($1 = 6.4778 Chinese yuan) (Reporting by Min Zhang and Shivani Singh; editing by Uttaresh.V)
