During the week ending February 28, import coking coal quotations in China have edged up due to tight supply in the local market and given the good demand from steelmakers earlier, while the rate of increase of prices has been slower as local mines have been resuming production gradually. At the same time, weaker coke prices in China have placed a question mark over the further uptrend of coking coal prices.
In the given period, quotations of premium hard coking coal from Australia have been at $171/mt CFR China, rising by $1.5/mt compared to last week. Hard coking coal prices are at $154/mt CFR on February 28, up $1.5/mt week on week.
Coke prices in Tangshan are at RMB 1,850/mt ($264/mt) ex-warehouse, down by RMB 50/mt ($7.1/mt) compared to the previous week, according to SteelOrbis’ data. Coke producers have resumed production amid easing pressure from transportation disruptions, while steelmakers’ inventory levels have seen a rising trend, exerting a negative impact on their demand for coke.
Coke futures prices at Dalian Commodity Exchange (DCE) have declined by RMB 78/mt ($11.1/mt) or 4.2 percent as of Friday, February 28, compared to February 21.
$1 = RMB 7.0066