Transaction activity still at good levels in local Chinese coke market

Friday, 18 April 2014 15:47:45 (GMT+3)   |   Shanghai
       

During the week ending April 18, metallurgical coke prices in the Chinese domestic market have moved on an overall stable trend, while transaction activity has remained at good levels. As of April 18, coke futures contract (1409) offers at Dalian Commodity Exchange closed at RMB 1,198/mt ($196/mt), down $8/mt week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.

Coke traders are not willing to lower their prices given the rebound seen in the domestic finished steel market. Meanwhile, transaction activity has been providing a certain degree of support for the stable trend in the coke market. However, coking coal prices in the Chinese domestic market have been indicating a soft trend, weakening the support for coke prices on the cost side. It is thought that coke prices in the Chinese domestic market will likely soften in the coming week.


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