During the week ending August 29, metallurgical coke prices in the Chinese domestic market have remained on a stable trend, while transaction activity has been at decent levels. As of August 29, coke futures contract (1501) offers at Dalian Commodity Exchange closed at RMB 1,106/mt ($179.55/mt), up RMB 3/mt ($0.55/mt) week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
Domestic steelmakers have continued to purchase coke in order to maintain their daily production operations, with their transaction activities providing support for local market prices. However, recent declines in prices of finished steel and iron ore have exerted some negative pressure on coke prices. Furthermore, inventories of coke at Chinese ports are at comparatively high levels, while outputs of Chinese coking plants have increased. It is expected that coke prices in the Chinese domestic market will indicate a slight downtrend in the coming week amid bearish sentiment in steel-related industries.