During the week ending August 21, metallurgical coke prices in the Chinese domestic market have indicated a slight downtrend in Shandong and Anhui, though remaining stable in other regions, while transaction activity in the overall market has continued to be at low levels. As of August 21, coke futures contract (1601) offers at Dalian Commodity Exchange closed at RMB 806/mt ($126/mt), down $7/mt week on week. Average coke prices in the local Chinese market are presented in the table below.
During the given week, domestic steelmakers have continued to try to force coke producers to lower their prices, causing some coke producers to withdraw their offer prices and contributing to some downticks in coke prices in the market. Meanwhile, coking coal prices have softened somewhat, thereby weakening support for coke prices. At the same time, however, domestic finished steel prices have moved on a stable trend, providing support for coke prices. Meanwhile, the Caixin China Flash Manufacturing Purchasing Managers Index (PMI) decreased to 47.1 for August, down from the final reading of 47.8 for July, exerting a negative impact on prices of commodities including coke. It is thought that coke prices in the Chinese domestic market will likely move on a slight downtrend in the coming week.
Product name | Spec. | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | 2nd grade | Hancheng,Shaanxi | 680 | 106 | 0 |
Zibo ,Shandong | 760 | 119 | ↓20 | ||
Pingdingshan,Henan | 780 | 122 | 0 | ||
Tangshan | 820 | 128 | 0 | ||
Huaibei,Anhui | 810 | 127 | ↓20 | ||
Average | 770 | 121 | ↓8 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.39