During the week ending June 19, import premium hard coking coal quotations in China have moved up amid the equilibrium in the market after demand from outside China returned. Market sources are evaluating the impact on the market from the strict controls on import coal as some ports have exhausted their annual import quotas.
Quotations of premium hard coking coal from Australia are at $120.5/mt CFR China, increasing by $1/mt compared to last week. Hard coking coal prices are at $99/mt CFR, also moving up by $1/mt week on week.
Coke prices in Tangshan are at RMB 1,900/mt ($268/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 increased, while inventory of coke has decreased, signaling good demand from downstream users. However, rainy weather in eastern and southern China has negatively affected the steel market, which will weaken the support for coke prices in the near future.
As of Friday, June 19, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 1,972/mt ($278/mt), increasing by RMB 2/mt ($2.3/mt) or 0.1 percent compared to June 12.
$1 = RMB 7.0913
