During the week ending November 14, metallurgical coke prices in the Chinese domestic market have remained on a stable trend, while transaction activity in the overall market has continued to be at decent levels. As of November 14, coke futures contract (1501) offers at Dalian Commodity Exchange closed at RMB 1,068/mt ($174/mt), down $1/mt week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
During the Asia-Pacific Economic Cooperation (APEC) meeting in Beijing, coking producers in northern China have been required to cut production, resulting in some shortages in local coke supplies, which in turn caused some buyers to increase their transaction activities. With the end of the APEC meeting, output of the affected coking plants will recover and supplies will accordingly increase. However, coke producers have said their coke inventories are on the low side and that they need time to fully resume their production operations and so they will not cut their prices in the short term. Meanwhile, some steelmakers will likely increase their purchases of coke in preparation for the winter. As for the coming week, it is expected that coke prices in the Chinese domestic market will mostly remain stable, though some slight upticks may also be possible.
$1 = RMB 6.13