During the week ending October 30, metallurgical coke prices in the Chinese domestic market have moved on a stable trend, while transaction activity in the overall market has been at decent levels. As of October 30, coke futures contract (1601) offers at Dalian Commodity Exchange closed at RMB 725/mt ($115/mt), down $2/mt week on week. Average coke prices in the local Chinese market are presented in the table below.
During the given week, a few large domestic steelmakers have sought to purchase coke at lower prices, resulting in some declines in prices in actual transactions concluded by these steelmakers, though coke offer prices in general have remained unchanged. Iron ore prices have recently indicated a soft trend, exerting some negative impact on coke prices. Meanwhile, market participants have become more pessimistic on the prospects for finished steel consumption, resulting in weaker sentiment in the finished steel and raw materials markets. It is thought that coke prices in the Chinese domestic market will continue to move sideways in the coming week.
Product name | Spec. | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | 2nd grade | Hancheng,Shaanxi | 640 | 101 | 0 |
Zibo ,Shandong | 730 | 116 | 0 | ||
Pingdingshan,Henan | 740 | 117 | 0 | ||
Tangshan | 760 | 120 | 0 | ||
Huaibei,Anhui | 800 | 127 | 0 | ||
Average | 734 | 116 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.32