During the week ending September 11, import coking coal quotations in China have moved up, following the rises in FOB prices.
Quotations of premium hard coking coal from Australia are at $126/mt CFR China, up $8/mt compared to last week. Hard coking coal prices are at $105/mt CFR, up $7/mt compared to the previous week.
Coke prices in Tangshan are at RMB 1,900/mt ($278/mt) ex-warehouse, increasing by RMB 50/mt ($7.3/mt) compared to the previous week, according to SteelOrbis’ data.
During the given week, coke prices have risen slightly amid increasing steel capacity utilization rates and decreasing inventory levels. However, steelmakers’ profitability has decreased, which will curb further rises in coke prices as they will purchase just in line with their needs.
As of Friday, September 11, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 1,976.5/mt ($289/mt), decreasing by RMB 54/mt ($8/mt) or 2.7 percent compared to September 4.
$1 = RMB 6.8389