During the week ending January 22, metallurgical coke prices in the Chinese domestic market have moved on a stable trend. Transaction activity in the overall market has been at decent levels. As of January 22, coke futures contract (1605) offers at Dalian Commodity Exchange closed at RMB 646/mt ($98.5/mt), up $3.5/mt week on week. Average coke prices in the local Chinese market are presented in the table below.
During the given week, the rebounding trend of domestic finished steel prices has slowed down, and iron ore futures prices have edged down slightly, negatively affecting coke prices in China. The Chinese government has lately put reform of the oversupply situation in the coal industry on its agenda, exerting some positive impact on coke prices. At the same time, coke futures prices have indicated significant rises. Approaching the Chinese New Year holiday (February 8-14), buyers and sellers in the domestic coke market will likely be happy with the sideways movement of prices. It is thought that coke prices in the Chinese domestic market will likely continue their stable trend in the coming week.
Product name | Spec. | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | 2nd grade | Hancheng,Shaanxi | 550 | 84 | 0 |
Zibo ,Shandong | 690 | 105 | 0 | ||
Pingdingshan,Henan | 650 | 99 | 0 | ||
Tangshan | 680 | 103 | 0 | ||
Huaibei,Anhui | 750 | 114 | 0 | ||
Average | 664 | 101 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.58