In the past week, the Chinese metallurgical coke market has in general fluctuated on a weak trend. However, the main coke futures contract (1205) price at Dalian Commodity Exchange has increased by $3/mt week on week, closing at RMB 2,065/mt ($328/mt).
As of February 24, Chinese average second grade metallurgical coke spot prices in the main local markets have decreased by $2.2/mt week on week to $302/mt.
Chinese steel mills have continued to ask domestic coking plants to revised their prices downward. Under pressure from high inventories, the coke producers have agreed to reduce their ex-works coke prices by RMB 20-40/mt ($3-6/mt). Chinese coke prices are expected to decline by a small margin in the coming weeks.