During the week ending August 28, metallurgical coke prices in the Chinese domestic market have moved on a stable trend, while transaction activity in the overall market has been better than in the previous week, though remaining at low levels. As of August 28, coke futures contract (1601) offers at Dalian Commodity Exchange closed at RMB 801.5/mt ($125/mt), down $1/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, steelmakers tried to lower their purchase prices for coke. However, the rebound seen in coke futures prices and the financial markets in recent days after the previous slump has provided support for sellers to keep their coke prices stable. Nevertheless, with signs of this rebound weakening, coke prices will likely come under pressure again. On the other hand, market players are upbeat on the future prospects for the finished steel markets in the traditional peak season of September and October, and this also provides a certain degree of support for coke prices. It is thought that coke prices in the Chinese domestic market may edge down slightly in the coming week.
Product name | Spec. | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | 2nd grade | Hancheng,Shaanxi | 680 | 106 | 0 |
Zibo ,Shandong | 760 | 119 | 0 | ||
Pingdingshan,Henan | 780 | 122 | 0 | ||
Tangshan | 820 | 128 | 0 | ||
Huaibei,Anhui | 810 | 127 | 0 | ||
Average | 770 | 121 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.39