During the week ending August 14, import coking coal quotations in China have edged down slightly amid sluggish demand in east Asia.
Quotations of premium hard coking coal from Australia are at $119/mt CFR China, decreasing by $0.5/mt compared to last week. Hard coking coal prices are at $98.5/mt CFR, declining by $0.5/mt week on week.
Coke prices in Tangshan are at RMB 1,800/mt ($259.4/mt) ex-warehouse, moving sideways compared to the previous week, according to SteelOrbis’ data.
During the given week, transaction activities in the coke market in China have been quite good. However, coke futures prices have indicated downward corrections, exerting a negative impact on the coke market. At the same time, steelmakers’ profits have shrunk, causing them to hold a wait-and-see stance.
As of Friday, August 14, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 1,992.5/mt ($287/mt), decreasing by RMB 79.5/mt ($11.5/mt) or 3.8 percent compared to August 7.
$1 = RMB 6.9405
