January 28, 2020 / 9:49 AM / a month ago

China commodity bourses extend closures amid virus outbreak

FILE PHOTO: Cranes unload imported iron ore from a ship amid snow at the iron ore terminal of Qingdao port in Shandong province, China December 11, 2018. Picture taken December 11, 2018. REUTERS/Stringer

(Reuters) - Chinese commodities exchanges delayed their re-opening dates post Lunar New Year as part of the country’s effort to contain a fast-spreading coronavirus which has killed more than 100 people.

The Dalian Commodity Exchange, where one of China’s most liquid derivatives — iron ore futures — is traded, will now open on Monday, Feb. 3, instead of Friday, Jan. 31, according to a notice posted on the Chinese bourse’s website.

The Shanghai Futures Exchange (ShFE), its subsidiary Shanghai International Energy Exchange (INE) and the Zhengzhou Commodity Exchange also extended their reopening to Feb. 3, they said on their websites, citing guidance from authorities.

The Chinese government has extended the week-long Lunar New Year holiday by three days to Feb. 2 as it seeks to limit the spread of the coronavirus, which has infected more than 4,500 people.

Reporting by Enrico dela Cruz in Manila and Mai Nguyen in Hanoi; editing by Uttaresh.V and Jason Neely

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