During the week ending September 2, average metallurgical coke prices in the Chinese domestic market have continued to indicate an upward trend, while transaction activity in the overall market has been at decent levels. As of September 2, coke futures contract (1701) offers at Dalian Commodity Exchange closed at RMB 1,223.5mt ($184/mt), almost remaining stable week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, major domestic coking coal producer Shenhua Group has raised its coking coal prices, providing support for coke prices in the spot market. Steelmakers have accepted the coking plants’ price rises in order to satisfy their needs for production. Currently, in northern China coking plants’ capacity utilization rates are at normal levels, while in southern China capacity utilization rates are at low levels due to the G20 Summit in Hangzhou on September 4-5. It is expected that coke prices in the Chinese domestic market will likely continue their upward trend in the coming week.
Product name | Spec. | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | 2nd grade | Hancheng,Shaanxi | 1,000 | 150 | ↑50 |
Zibo ,Shandong | 1,280 | 192 | ↑100 | ||
Pingdingshan,Henan | 1,150 | 172 | ↑100 | ||
Tangshan | 1,200 | 180 | ↑20 | ||
Huaibei,Anhui | 1,120 | 168 | ↑70 | ||
Average | 1,150 | 172 | ↑68 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.68