During the week ending January 22, import quotations in China have edged up for premium hard coking coal and hard coking coal, while export offers from Australia have increased more visibly after the latest sales on FOB basis.
Quotations of premium hard coking coal from Canada are at $217/mt CFR, up $2.5/mt, and prices for ex-Russia coking coal are $178/mt CFR, showing an increase by $9/mt, compared to last week.
At the same time, quotations of premium hard coking coal from Australia are equivalent to $146/mt CFR China, up $17/mt compared to last week. A few bookings have been reported at a much higher level on FOB basis - at $132-133/mt FOB. Demand from India and worries about supply disruptions due to weather conditions in Australia have supported the price rise. Hard coking coal prices from Australia are equivalent to $124/mt CFR, up $13/mt compared to last week.
Coke prices in Tangshan are at RMB 2,700/mt ($418/mt) ex-warehouse, moving up by RMB 100/mt ($15.5/mt) compared to last week, according to SteelOrbis’ data.
During the given week, coking plants’ capacity utilization rates in China have been at relatively high levels. Currently, the supply shortage of coke has bolstered prices. Meanwhile, inventory of coke has declined as demand from downstream steelmakers has been at decent levels. It is thought that coke prices in the Chinese domestic market will likely edge up in the coming week.
As of Friday, January 22, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,771/mt ($429/mt), decreasing by RMB 4/mt ($0.6/mt) or 0.14 percent compared to January 15.
$1 = RMB 6.4617