During the week ending November 1, metallurgical coke prices in the Chinese domestic market have moved sideways, while import coking coal quotations have also remained stable.
In the given period, quotations of premium hard coking coal from Australia have remained at $163/mt CFR China. Hard coking coal prices are at $142/mt CFR on November 1. In the given week, customs processing at Chinese ports have been delayed, which may hold up some shipments for up to 50-60 days, which will exert a negative impact on demand for Australian coking coal in November.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
|
Coke |
Second grade |
Hancheng,Shaanxi |
1,650 |
234.2 |
|
Zibo, Shandong |
1,750 |
248.4 |
||
|
Pingdingshan,Henan |
1,800 |
255.5 |
||
|
Tangshan |
1,800 |
255.5 |
||
|
Huaibei,Anhui |
1,830 |
259.8 |
||
|
Average |
1,766 |
250.7 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
In the given week, coking plants’ capacity utilization rates have decreased due to production restrictions. Downstream users have been unwilling to build up stocks for coke, resulting in rises of coke inventories at coking plants, which will negatively affect coke prices. On November 1, coke futures contract (2001) offers at Dalian Commodity Exchange closed at RMB 1,743/mt ($247/mt), down $6/mt from October 25.
$1 = RMB 7.044