China's coke and coking coal futures defy global market rout

Manila

STEELMAKING commodity coke surged to a six-week high in China on Tuesday, and steel and iron ore prices rose to their strongest in over a week, as investors defied a global financial selloff and raised their bets amid supply disruptions.

Steel-related commodities were among a handful that managed to evade the global market rout that followed Wall Street's biggest decline since 2011. Amid inflation worries, oil and copper slid more than 1 per cent while Asian equities sank further along with US stock futures.