During the week ending November 22, import coking coal quotations in China have decreased slightly for premium hard material, while moved sideways for hard coking coal, while metallurgical coke prices in the Chinese domestic market have moved on a stable trend.
As of November 22, quotations of premium hard coking coal from Australia are at $147/mt CFR China, down $3/mt compared to last week, while hard coking coal prices are at $134/mt CFR, remaining stable week on week. Most importers are worried about customs clearance and discharge problems approaching the end of the year, resulting in quiet activity in coking coal imports. It is thought that imported coking coal prices will likely move sideways in the coming period.
In the past week, coking plants’ capacity utilization rates have decreased slightly as some coke producers implemented production restrictions. Inventory of coke has seen declines, easing the pressure on coking plants to some extent. Demand for coke from steelmakers has improved due to their better profitability amid rising steel prices.
On November 22, coke prices in the local market have remained stable week on week. The price in Tangshan is RMB 1,750/mt ($249/mt) ex-warehouse, according to SteelOrbis’ data.
$1 = RMB 7.0306
