During the week ending March 24, average metallurgical coke prices in the Chinese domestic market have indicated a rising trend, while transaction activity in the overall market has been better than in the previous week and is now at decent levels. As of March 24, coke futures contract (1705) offers at Dalian Commodity Exchange closed at RMB 1,893/mt ($275/mt), up $6/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, average prices of domestic coke in China have indicated a rising trend. With production restrictions coming to an end after China's 12th National People's Congress, blast furnace capacity utilization rates have increased, resulting in improved transaction activity compared to the previous week. Meanwhile, overall domestic coke inventory levels have decreased significantly over the past week, exerting a positive impact on coke prices. It is thought that Chinese domestic coke prices will likely edge up slightly in the coming period.
Product name | Specification | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | Second grade | Hancheng, Shaanxi | 1,630 | 238 | ↑50 |
Zibo, Shandong | 1,770 | 258 | ↑150 | ||
Pingdingshan, Henan | 1,860 | 271 | ↑180 | ||
Tangshan | 1,800 | 262 | ↑120 | ||
Huaibei, Anhui | 1,840 | 268 | ↑90 | ||
Average | 1,780 | 259 | ↑118 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.86