During the week ending March 3, average metallurgical coke prices in the Chinese domestic market have indicated a downward movement, while transaction activity in the overall market has been at low-to-medium levels. As of March 3, coke futures contract (1705) offers at Dalian Commodity Exchange closed at RMB 1,806/mt ($262/mt), up $13/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, Chinese steelmakers' inventories of coke have been at relatively high levels and so they have been delaying their purchases, resulting in slacker transaction activity and thereby exerting negative pressure on domestic coke prices in the spot market. With domestic steel prices tending towards stability, it is thought that Chinese domestic coke prices will likely move sideways or edge down slightly in the coming period.
Product name | Specification | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | Second grade | Hancheng, Shaanxi | 1,580 | 229 | ↓20 |
Zibo, Shandong | 1,620 | 235 | ↓30 | ||
Pingdingshan, Henan | 1,680 | 243 | ↓20 | ||
Tangshan | 1,680 | 243 | ↓20 | ||
Huaibei, Anhui | 1,750 | 254 | ↓50 | ||
Average | 1,662 | 241 | ↓28 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.90