During the week ending August 30, metallurgical coke prices in the Chinese domestic market have moved on a downward trend, while transaction activity in the overall market has been at low-to-medium levels. As of August 23, coke futures contract (2001) offers at Dalian Commodity Exchange closed at RMB 1,891.0/mt ($267/mt), down $9/mt compared to the previous week. Average coke prices in the local Chinese market are presented in the following table.
Product name |
Specification |
Place of origin |
Price(RMB/mt) |
Price ($/mt) |
Weekly change(RMB/mt) |
Weekly change($/mt) |
Coke |
Second grade |
Hancheng,Shaanxi |
1,800 |
254.0 |
-100.0 |
-14.1 |
Zibo ,Shandong |
1,900 |
268.1 |
-100.0 |
-14.1 |
||
Pingdingshan,Henan |
1,950 |
275.2 |
-100.0 |
-14.1 |
||
Tangshan |
1,950 |
275.2 |
-100.0 |
-14.1 |
||
Huaibei,Anhui |
1,930 |
272.3 |
-100.0 |
-14.1 |
||
Average |
1,906 |
268.9 |
-100.0 |
-14.1 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, finished steel prices in China have moved down, exerting a negative impact on the domestic coke market as downstream users have been downbeat on the prospects for the market price trend and have been pushing for lower purchase prices for coke. Meanwhile, iron ore prices have edged down, negatively affecting the coke market. Although coking plants’ coke inventories are at relatively low levels, some plants’ inventories have started to increase. It is thought that coke prices in the Chinese domestic market will likely soften in the coming week.
$1 = RMB 7.09