During the week ending August 8, metallurgical coke prices in the Chinese domestic market have continued to follow a stable trend, while transaction activity has remained at decent levels. As of August 8, coke futures contract (1501) offers at Dalian Commodity Exchange closed at RMB 1,136/mt ($185/mt), up $4/mt week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
During the given week, steelmakers' coke purchases remained at decent levels due to their low inventories. Meanwhile, coking plants' outputs have not increased and their inventory levels are also on the low side, which provides a certain amount of support for domestic coke prices. Currently, finished steel and iron ore prices in China are characterized by just slight fluctuations, contributing to the stability of coke prices. It is expected that coke prices in the Chinese domestic market will maintain their sideways movement in the coming week.
$1 = RMB 6.15