During the week ending February 27, metallurgical coke prices in the Chinese domestic market have indicated a stable trend, while transaction activity in the overall market has been slack. As of February 27, coke futures contract (1505) offers at Dalian Commodity Exchange closed at RMB 1,021/mt ($163/mt), down $3.6/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, since coke producers and traders have just returned from the Spring Festival holiday (Feb. 18-24), their prices are still unchanged from the pre-holiday levels. Steelmakers have not started to purchase yet and so transaction activity is very quiet. The coke futures and steel futures markets have indicated a weak trend, reflecting the bearish sentiment among market participants. It is expected that coke prices in the Chinese domestic market will continue their stable trend in the coming week, though transaction activity is expected to show some improvement.
$1 = INR 6.27