During the week ending April 24, metallurgical coke prices in the Chinese domestic market have moved a stable trend in most cities of China, though prices in Pingdingshan, Henan Province have seen a declining trend, while transaction activity in the overall market has been at decent levels. As of April 24, coke futures contract (1509) offers at Dalian Commodity Exchange closed at RMB 927/mt ($150/mt), up $3/mt week on week.
During the given week, since iron ore prices have switched to a stable trend following their previous downward movement, the trend of coke prices in China has also indicated greater stability. In addition, production cuts by coking plants have also provided support for domestic coke prices. Furthermore, iron ore futures prices have lately indicated a rebound, exerting a positive impact on sentiment in the coke market. Meanwhile, time is still needed to see the impact of the reduced reserve requirement ratio for Chinese banks. Finally, activity on construction sites has increased, which also provides support for the steel market and for coke prices. It is expected that coke prices in the Chinese domestic market will move on a stable trend in the coming week.
Product name | Spec. | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | 2nd grade | Hancheng,Shaanxi | 720 | 116 | 0 |
Zibo ,Shandong | 850 | 137 | 0 | ||
Pingdingshan,Henan | 880 | 142 | ↓20 | ||
Tangshan | 900 | 145 | 0 | ||
Huaibei,Anhui | 900 | 145 | 0 | ||
Average | 850 | 137 | ↓4 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20