The market committee of the China Coking Industry Association held a video meeting on March 6, during which enterprises attending the meeting agreed that coking plants would extend coking periods to reduce capacity utilization, while also implementing 30 percent production restrictions, aiming to bolster coke prices. At the same time, coking plants would reduce or stop purchasing high-priced coal to lower production costs. Moreover, coking plants would give priority for delivery to those clients who accepted the rise in coke prices, while suspending or reducing delivery to those declining to accept the increase in coke prices.
In particular, on March 6, Shanxi Province-based Chinese coking plant Shanxi Coking Coal Group Co., Ltd. and Inner Mongolia-based Inner Mongolia Yuantong Coal and Chemical Group announced increases in their coke prices as of March 7, with the wet quenching coke price up RMB 100/mt ($14.5/mt), while the price of dry quenching coke was hiked by RMB 110/mt ($15.9/mt).
$1 = RMB 6.9156