During the week ending September 24, import quotations for coking coal in China have continued the big rises due to tight supply and this has been confirmed in deals, while prices for local coke have remained stable.
Prices for premium hard coking coal from Canada have reached $582.5/mt CFR, up $22.5/mt compared to sharp increases recorded on September 17. At the same time, ex-US premium material has been traded to close $600/mt CFR.
Lower quality ex-Russia coking coal is at $427/mt CFR, increasing by $9/mt on week.
Quotations of premium hard coking coal from Australia are equivalent to $432/mt CFR China, up $55.5/mt compared to big rises recorded in last week. Most offers at FOB basis have been at $405/mt FOB and above now. Hard coking coal prices correspond at $339/mt CFR, up $53/mt compared to increases recorded in the previous week.
Coke prices in Tangshan are at RMB 4,160/mt ($645/mt) ex-warehouse, moving sideways compared to rises of RMB 200/mt recorded on September 17, according to SteelOrbis’ data.
During the given week, coke prices in the Chinese domestic market have remained stable amid the decreasing capacity utilization rates on coking plants’ side and slightly rising inventory level in the spot market. Steelmakers’ demand for coke has slackened due to the dual control of total energy consumption and energy intensity, which negatively affected the coke prices. It is thought that coke prices in the Chinese domestic market will likely see a downward trend in the coming week.
As of Friday, September 24, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 3,197.5/mt ($495/mt), decreasing by RMB 20.5/mt ($3.2/mt) or 0.64 percent compared to September 17.
$1 = RMB 6.4599