Prices for ex-China and ex-Indonesia coke have increased in the latest sales, supported by the gains seen in the local Chinese market, where coke suppliers have managed to push prices up by RMB 60/mt this week.
For instance, at least one sale of ex-Indonesia CSR 65 met coke has been signed at $305/mt FOB, which is in line with offers late last week, but has now been fixed in a deal. Ex-China CSR 63/65 met coke offers have increased by $5/mt from late last week to $300/mt FOB, and, though there have been no reports of deals, market sources said that it is impossible to find lower numbers from Chinese exporters. Also, cheaper ex-Russia coke has been offered to India at $310/mt CFR.
The second round of coke price increases in the local Chinese market has been implemented this week with prices gaining by RMB 60/mt or $8.4/mt, taking into account the exchange rate fluctuations. “Chinese mills accept higher raw material prices, like coke or iron ore, as they still need to produce [steel] - production limitations are not so big,” a source said.
In addition, coking coal prices have been supporting coke prices from the cost side. In particular, ex-Russia PCI deals have been confirmed at $157-158/mt CFR to Indonesia and $154-155/mt CFR to China, while last week offers to Asia were at $150-152/mt CFR.
Prices of coke in local markets in China
|
|
Specification |
Place of Origin |
Price（RMB/mt） |
Price ($/mt) |
Weekly Change（RMB/mt） |
Weekly Change（$/mt） |
|
Coke |
First grade （A<13.0,S<0.75,CSR>65.0） |
Hancheng, Shaanxi |
2,050 |
287.4 |
+60.0 |
+8.4 |
|
Zibo, Shandong |
2,240 |
314.1 |
+60.0 |
+8.4 |
||
|
Pingdingshan, Henan |
2,200 |
308.5 |
+60.0 |
+8.4 |
||
|
Tangshan |
2,090 |
293.0 |
+60.0 |
+8.4 |
||
|
Huaibei, Anhui |
2,250 |
315.5 |
+60.0 |
+8.4 |
||
|
Average |
2,166 |
303.7 |
+60.0 |
+8.4 |