During the week ending May 26, domestic coke prices in China have mostly moved on a downtrend due to still low demand, while some hopes for a stabilization of the situation have been dampened by expectations of weak steel demand in the coming weeks in China and by the bearish coking coal market.
First-grade coke prices in Tangshan are at RMB 2,070/mt ($292.5/mt) ex-warehouse, edging down by RMB 50/mt compared to May 19, according to SteelOrbis’ data.
Prices of coke in local markets in China
|
Product Name |
Specification |
Place of Origin |
Price（RMB/mt） |
Price ($/mt) |
Weekly Change（RMB/mt） |
Weekly Change（$/mt） |
|
Coke |
First grade （A<13.0,S<0.75,CSR>65.0） |
Hancheng,Shaanxi |
2,030 |
286.9 |
-50.0 |
-8.7 |
|
Zibo ,Shandong |
2,220 |
313.7 |
-50.0 |
-8.9 |
||
|
Pingdingshan,Henan |
2,190 |
309.5 |
0.0 |
-1.8 |
||
|
Tangshan |
2,070 |
292.5 |
-50.0 |
-8.8 |
||
|
Huaibei,Anhui |
2,290 |
323.6 |
0.0 |
-1.8 |
||
|
Average |
2,160 |
305.3 |
-30.0 |
-6.0 |
including 13 percent VAT
During the given week, average coke prices in the Chinese domestic market have mostly moved on a downtrend amid relatively stable production. Steel prices have seen a decreasing trend, though rebounding slightly on May 26 amid the rise in rebar and HRC futures prices. Steelmakers’ profitability has been at relatively low levels, with some of them even incurring losses, resulting in cautious sentiments as regards the future prospects for coke prices.
As of Friday, May 26, coking coal futures at Dalian Commodity Exchange (DCE) have settled at RMB 1,263/mt ($178.5/mt), down by RMB 82/mt ($11.6/mt) or 6.1 percent week on week. Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 1,990.5/mt ($281/mt), decreasing by RMB 165.5/mt ($23.4/mt) or 7.68 percent compared to May 19.
The price for ex-China 25-90 mm CSR 63 metallurgical coke has been reported at $305/mt FOB. Offers to India have been heard at $330-340/mt CFR for CSR 65/63 material, down by $30/mt over the past month.
$1 = RMB 7.076