During the week ending March 10, average metallurgical coke prices in the Chinese domestic market have indicated a stable trend, while transaction activity in the overall market has been at medium levels. As of March 10, coke futures contract (1705) offers at Dalian Commodity Exchange closed at RMB 1,768/mt ($256/mt), down $7/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, in some regions of China, coking enterprises' operating capacities have been limited due to strict environmental protection requirements imposed by local governments. As a result, pressures from the supply side have eased to some extent and this has provided some support for domestic coke prices. On the other hand, the recent declines seen in prices of iron ore and finished steel have exerted a negative impact on cokes prices in the domestic spot market. It is expected that Chinese domestic coke prices will edge down slightly in the coming period.
Product name | Specification | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | Second grade | Hancheng, Shaanxi | 1,580 | 229 | 0 |
Zibo, Shandong | 1,620 | 234 | 0 | ||
Pingdingshan, Henan | 1,680 | 243 | 0 | ||
Tangshan | 1,680 | 243 | 0 | ||
Huaibei, Anhui | 1,750 | 253 | 0 | ||
Average | 1,662 | 241 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.91