During the week ending January 15, import coking coal quotations in China have moved up slightly in China for North American and Russian origin material. At the same time, ex-Australia coking coal prices have increased visibly over the past week, supported by demand from India, while there are reports that China will approve the acceptance of some stranded Australian coal cargoes, in a move which would help ease the logjams of vessels at Chinese ports.
Prices for premium hard coking coal from Canada are at $214.4/mt CFR China, up $0.4/mt since last week, while the level of prices for hard coking coal from Russia is $169/mt CFR, which is $5/mt higher compared to last week.
Meantime, quotations of premium hard coking coal from Australia are equivalent to about $129/mt CFR China, up $14.5/mt compared to last week. Hard coking coal prices are at $111/mt CFR, up $11/mt compared to last week. These increases have been supported by the recent higher tradable value to India.
Coke prices in Tangshan are at RMB 2,600/mt ($402.5/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 remained stable compared to the previous week amid the loosening of environmental protection measures. Meanwhile, steelmakers’ inventories of coke have declined, bolstering coke prices. However, the worsening Covid-19 pandemic has negatively affected the transportation of coke, exerting a positive impact on coke prices as steel mills have been more willing to build up stocks.
As of Friday, January 15, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,775/mt ($430/mt), decreasing by RMB 147.5/mt ($22.8/mt) or 5.05 percent compared to January 8.
$1 = RMB 6.4633