During the week ending April 28, coke prices in the local Chinese market have continued their downtrend and the pace of the drop has accelerated due to falling demand. At the same time, prices for Chinese coke in the export market have also dropped drastically.
First-grade coke prices in Tangshan are at RMB 2,370/mt ($342.5/mt) ex-warehouse, moving down by RMB 200/mt compared to April 21, according to SteelOrbis’ data.
Prices of coke in local markets in China
|
|
Specification |
Place of Origin |
Price（RMB/mt） |
Price ($/mt) |
Weekly Change（RMB/mt） |
Weekly Change（$/mt） |
|
Coke |
First grade （A<13.0,S<0.75,CSR>65.0） |
Hancheng,Shaanxi |
2,330 |
336.5 |
-200.0 |
-31.5 |
|
Zibo ,Shandong |
2,520 |
364.0 |
-200.0 |
-31.7 |
||
|
Pingdingshan,Henan |
2,340 |
338.0 |
-200.0 |
-31.5 |
||
|
Tangshan |
2,370 |
342.3 |
-200.0 |
-31.5 |
||
|
Huaibei,Anhui |
2,440 |
352.4 |
-200.0 |
-31.6 |
||
|
Average |
2,400 |
346.6 |
-200.0 |
-31.6 |
including 13 percent VAT
During the given week, coke prices in the Chinese domestic market have continued their downtrend amid extremely week buying, and decreasing coking coal prices. Steelmakers have started to implement production cuts, exerting a negative impact on demand for coke. Meanwhile, the inventory levels of coke have seen rises, weakening the support for prices. It is thought that coke prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Offers for 25-90 mm CSR 65/63 metallurgical coke from China have been reported at $360-370/mt CFR to India, down sharply from $410-420/mt CFR two weeks ago. “Demand in India has not improved. Finished steel prices are not good,” a local source said.
As of Friday, April 28, coking coal futures at Dalian Commodity Exchange (DCE) have settled at RMB 1,385/mt ($200/mt), down 6.8 percent week on week. Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,149/mt ($310.5/mt), decreasing by RMB 122/mt ($17.6/mt) or 5.4 percent compared to April 21.
$1 = RMB 6.924