During the week ending July 3, import premium hard coking coal quotations in China have moved up amid decent transaction activities in the international market. Demand from China and India may support prices at the current level or just a slight decline may be possible, according to sources.
Quotations of premium hard coking coal from Australia are at $130/mt CFR China, increasing by $9.5/mt over the past two weeks. Hard coking coal prices are at $106/mt CFR, moving up by $5/mt week on week or by $7/mt over the past two weeks.
Coke prices in Tangshan are at RMB 1,950/mt ($268/mt) ex-warehouse, moving up by RMB 50/mt ($7.1/mt) over the past two weeks, according to SteelOrbis’ data.
Coking plants’ capacity utilization rates have remained in line with two weeks ago, while inventories of coke have decreased in some regions, though traders have been unwilling to conclude purchases at relatively high levels. Meanwhile, demand for finished steel has been slack, which will exert a negative impact on steelmakers’ willingness to build up coke stocks.
As of Friday, July 3, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 1,871.5/mt ($278/mt), decreasing by RMB 100.5/mt ($14.2/mt) or 5.1 percent compared to June 19.
$1 = RMB 7.0638
