During the week ending December 25, import quotations in China have moved up sharply for premium hard coking coal and hard coking coal. The ban on Australian coal continued.
Prices for coking coal from Canada and Russia are at $197/mt and $153/mt CFR, up $17/mt and $19/mt, compared to last week, respectively.
Coke prices in Tangshan are at RMB 2,300/mt ($352/mt) ex-warehouse, moving up by RMB 50/mt ($7.7/mt) compared to that recorded in the previous week, according to SteelOrbis’ data.
During the given week, coking plants’ capacity utilization rates have been at high levels due to the good profitability. Meanwhile, steelmakers’ outputs have been at high levels, providing solid support to the demand for coke. At the same time, the security check on coal mines negatively affected the coal output, which will exert a positive impact on coke prices. It is expected that coke prices in the Chinese domestic market will likely move up in the coming week.
As of Friday, December 25, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,851/mt ($436.4/mt), increasing by RMB 190/mt ($29/mt) or 7.14 percent compared to December 18.
$1 = RMB 6.5333
