During the week ending July 10, metallurgical coke prices in the Chinese domestic market have followed a downward trend in Shaanxi and Tangshan, though remaining on a stable trend in other regions, while transaction activity in the overall market has weakened compared to the previous week and is now lower than normal levels. As of July 10, coke futures contract (1509) offers at Dalian Commodity Exchange closed at RMB 810/mt ($130/mt), down $11/mt week on week. Average coke prices in the local Chinese market are presented in the table below.
During the given week, iron ore prices have indicated sharp declines, exerting a negative impact on coke prices. Although steelmakers tried to lower their purchase prices for coke by slowing down their buying activity, the relative equilibrium between supply and demand has provided a certain degree of support for coke prices, which only declined in some regions. The sharp decreases in prices of finished steel and iron ore will continue to exert downward pressure on the coke market. It is expected that coke prices in the Chinese domestic market will edge down slightly in the coming week.
Product name | Spec. | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | 2nd grade | Hancheng,Shaanxi | 680 | 110 | ↓20 |
Zibo ,Shandong | 830 | 134 | 0 | ||
Pingdingshan,Henan | 820 | 132 | 0 | ||
Tangshan | 830 | 134 | ↓20 | ||
Huaibei,Anhui | 860 | 138 | 0 | ||
Average | 804 | 129 | ↓8 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21