During the week ending May 22, metallurgical coke prices in the Chinese domestic market have indicated a slight downtrend, while transaction activity in the overall market is at decent levels. As of May 22, coke futures contract (1509) offers at Dalian Commodity Exchange closed at RMB 912.5/mt ($147/mt), down $1/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, steelmakers have exerted downward pressure on coke prices in order to limit their costs as finished steel prices have not performed as well as expected. Meanwhile, iron ore prices have edged down, also exerting a negative impact on coke prices. Inventory levels of coke at Chinese ports have increased, whereas domestic coking plants have reduced their own inventory levels. Currently, the performance of the finished steel market is the main factor influencing coke prices. It is expected that coke prices in the Chinese domestic market will continue to indicate a slight downtrend in the coming week.
Product name | Spec. | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | 2nd grade | Hancheng,Shaanxi | 700 | 113 | ↓20 |
Zibo ,Shandong | 850 | 137 | 0 | ||
Pingdingshan,Henan | 840 | 136 | ↓40 | ||
Tangshan | 860 | 139 | ↓40 | ||
Huaibei,Anhui | 900 | 145 | 0 | ||
Average | 830 | 134 | ↓20 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.19