During the week ending December 30, average metallurgical coke prices in the Chinese domestic market have mostly indicated a declining trend, while transaction activity in the overall market has been at low levels. As of December 30, coke futures contract (1705) offers at Dalian Commodity Exchange closed at RMB 1,518/mt ($219/mt), down $18/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, coke prices in the domestic market have mostly decreased due to pressure from declines in finished steel prices. Steelmakers have reduced their purchases of coke in a bid to push down coke prices and so transaction activity in the coke market is currently at low levels. Meanwhile, coke futures prices have indicated downward corrections. Players in the coke spot market are mostly maintaining a wait-and-see stance. It is thought that coke prices in the Chinese domestic market will likely continue to move down in the week ahead.
Product name | Specification | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | Second grade | Hancheng, Shaanxi | 1,950 | 281 | 0 |
Zibo, Shandong | 2,030 | 293 | ↓70 | ||
Pingdingshan, Henan | 2,000 | 288 | ↓30 | ||
Tangshan | 2,000 | 288 | ↓70 | ||
Huaibei, Anhui | 2,100 | 303 | ↓50 | ||
Average | 2,016 | 290 | ↓44 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.94