During the week ending November 13, metallurgical coke prices in the Chinese domestic market have indicated a downward trend, while transaction activity in the overall market has been at decent levels. As of November 13, coke futures contract (1601) offers at Dalian Commodity Exchange closed at RMB 707/mt ($111/mt), down $1/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, coke producers and traders have reduced their sales prices for coke as bearish sentiment has prevailed in the coke market. Steelmakers will likely build up inventories for winter, which will provide some support for coke prices. However, finished steel consumption is gradually entering its off-season, which will result in slacker demand for coke. It is thought that coke prices in the Chinese domestic market will likely continue their downward movement in the coming week, though with smaller decrease margins likely to be seen compared to last week.
Product name | Spec. | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | 2nd grade | Hancheng,Shaanxi | 600 | 94 | ↓20 |
Zibo ,Shandong | 700 | 110 | ↓20 | ||
Pingdingshan,Henan | 700 | 110 | ↓20 | ||
Tangshan | 720 | 113 | ↓20 | ||
Huaibei,Anhui | 790 | 124 | ↓10 | ||
Average | 702 | 110 | ↓18 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.38