During the week ending June 20, metallurgical coke prices in the Chinese domestic market have continued their stable trend, while transaction activity has remained at decent levels. As of June 20, coke futures contract (1409) offers at Dalian Commodity Exchange closed at RMB 1,147/mt ($187.5/mt), up $0.5/mt week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
Domestic coking enterprises have been performing reasonably well in terms of sales activities and they have adopted a strategy of not raising their coke prices and maintaining low inventory levels. Meanwhile, finished steel and iron ore prices have been characterized by softness, exerting some negative pressure on coke prices. Chinese steelmakers indicate that they are now more inclined to maintain a wait-and-see stance towards coke purchases since, although coke prices are at comparatively low levels, finished steel has entered the off-season for consumption. It is expected that coke prices in the Chinese domestic market will remain on a stable trend in the coming week.