During the week ending August 21, import coking coal quotations in China have edged down slightly amid the increasing shipments from Australia and limited quota for imports until the end of this year. At the same time, coke prices in the domestic market have increased.
Quotations of premium hard coking coal from Australia are at $118/mt CFR China, decreasing by $1/mt compared to last week. Hard coking coal prices are at $98/mt CFR, declining by $0.5/mt week on week.
Coke prices in Tangshan are at RMB 1,850/mt ($267/mt) ex-warehouse, moving up by RMB 50/mt ($7.1/mt) compared to the previous week, according to SteelOrbis’ data.
During the given week, coking plants’ capacity utilization rates have seen slight rises, while inventory level has been at relatively low level. However, following rises in coke prices, downstream users have been cautious towards concluding purchases for coke. Meanwhile, steelmakers have borne heavy pressure form surging iron ore prices, which made them unwilling to accept big rise in coke prices.
As of Friday, August 21, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 1,931/mt ($279.5/mt), decreasing by RMB 61.5/mt ($9/mt) or 3.1 percent compared to August 14.
$1 = RMB 6.9107
