Latest situation in local Chinese coke market

Friday, 05 September 2014 15:22:41 (GMT+3)   |   Shanghai
       

 

During the week ending September 5, metallurgical coke prices in the Chinese domestic market have indicated a slight downtrend, while transaction activity has been at decent levels.

As of September 5, coke futures contract (1501) offers at Dalian Commodity Exchange closed at RMB 1,084/mt ($177/mt), down $3.55/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, due to the declining trend in finished steel prices, Chinese steelmakers have exerted downward pressure on coke prices in order to limit their production costs, resulting in decreases in coke prices in the spot market. The soft trend of prices of iron ore and scrap has also influenced prices in the coke market. Currently, demand from steelmakers is at good levels. For the coming week, it is thought that coke prices in the Chinese domestic market are unlikely to continue their downtrend and will probably move sideways instead.


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