During the week ending October 11, metallurgical coke prices in the Chinese domestic market have moved on a stable trend, while import coking coal quotations have increased, supported by demand improvement following the week-long holidays. At the same time, the overall sentiments in the market have been bearish.
In the given period, premium hard coking coal and hard coking coal prices have gained $8/mt and $7/mt compared to that recorded on September 27, to $161/mt CFR and $137/mt CFR on October 11.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
|
Coke |
Second grade |
Hancheng,Shaanxi |
1,700 |
240.4 |
0 |
0 |
|
Zibo ,Shandong |
1,800 |
254.5 |
0 |
0 |
||
|
Pingdingshan,Henan |
1,850 |
261.6 |
0 |
0 |
||
|
Tangshan |
1,850 |
261.6 |
0 |
0 |
||
|
Huaibei,Anhui |
1,830 |
258.7 |
0 |
0 |
||
|
Average |
1,806 |
255.3 |
0 |
0 |
Average coke prices in the local Chinese market have been stable. Coking plants’ capacity utilization rate has seen a rebounding trend, while Tangshan has issued production restriction measures for October, which will drag down the utilization rate in the coming period. Currently, the inventory of coke on steelmakers’ side has been at medium to high level, resulting in their quiet purchasing activities for coke. As of October 11, coke futures contract (2001) offers at Dalian Commodity Exchange closed at RMB 1,862.0/mt ($263/mt), down $2/mt compared to that recorded on September 27.
If the utilization rate of coking plants edges down, the demand for coking coal will slacken, which will drag down coking coal prices accordingly.
1$= RMB 7.07