During the week ending October 10, metallurgical coke prices in the Chinese domestic market have remained stable, while transaction activity, which was slack during the National Day Holiday (October 1-7), has started to improve as steelmakers have needed to conclude some purchases to maintain their normal production levels. As of October 10, coke futures contract (1501) offers at Dalian Commodity Exchange closed at RMB 1,078/mt ($176/mt), up $4/mt week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
After the holiday, many market participants have been maintaining a wait-and-see stance in order to observe the direction coke prices will follow. Meanwhile, northern China is currently facing a serious smog problem, necessitating the implementation of environmental protection measures and thereby negatively impacting coke supplies. In the coming period, steelmakers' demand for coke will provide a certain degree of support for coke prices and so coke prices in the domestic market will most likely follow a stable trend in the week ahead.