|Tick Size||$0.0005 per pound ($1.25 per contract)|
|Daily Limit||10% above or below previous settlement|
|Contract Size||2,500 pounds|
|Months||Mar, May, Jul, Sep, Dec (H, K, N, U, Z)|
|Trading Hours||5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 12:00p.m.) CST|
|Value of One Futures Unit||$2,500|
|Value of One Options Unit||$2,500|
|Last Trading Day||Third last business day of the month preceding the maturing delivery month|
Coke is the hard and porous residue left after certain types of bituminous coals are heated to high temperatures (up to 2,000 degrees Fahrenheit) for about 17 hours. It is blackish-gray and has a metallic luster. The residue is mostly carbon. Coke is used as a reducing agent in the smelting of pig iron and the production of steel. Petroleum coke is made from the heavy tar-like residue of the petroleum refining process. It is used primarily to generate electricity.
Futures on coke are traded on the Dalian Commodity Exchange.
Supply - Production of petroleum coke in the U.S. in 2022 rose by +5.6% yr/yr to 294.837 million barrels and remains below the U.S. production record of 369.305 million barrels posted back in 1957. U.S. stocks of coke at coke plants (Dec 31) in 2021 fell by -26.8% yr/yr to 352,000 tons.
Trade - U.S. coke exports in 2021 rose by +204.4% yr/yr to 2.081 million short tons, and 55.7% of that went to Canada. U.S. coke imports in 2021 fell by -27.6% yr/yr to 117,000 short tons. About 48.6% of U.S. imports were from Canada.
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