During the week ending May 14, import quotations for hard coking coal in China have moved up visibly as supply has remained tight, while a number of buyers have been looking for purchases.
Prices for premium hard coking coal from Canada have reached $253.5/mt CFR by the end of the week, up by $26/mt. The price level of lower grade coal from Russia stands at $180/mt CFR, moving up by $5/mt compared to May 7.
Quotations of premium hard coking coal from Australia are equivalent to $136.5/mt CFR China, up $5/mt compared to that recorded in last week. Hard coking coal prices are at $118/mt CFR, up $3.5/mt compared to the previous week. Ex-Australia coal prices have also improved owing to better demand out of China.
Coke prices in Tangshan are at RMB 2,600/mt ($403/mt) ex-warehouse, moving up by RMB 200/mt ($31/mt) compared to that recorded on May 7, according to SteelOrbis’ data.
During the given week, coke prices in China have edged up further as coking plants suspended selling at low prices and steelmakers have gradually accepted the new higher prices. The inventory of coke on coking plants’ side has decreased, bolstering its prices. Also, the continuous rises in steel prices exerted a positive impact on coke prices. At the same time, coking coal prices also moved up, providing support to coke prices from cost side.
As of Friday, May 14, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,614.5/mt ($405/mt), decreasing by RMB 224/mt ($34.7/mt) or 7.9 percent compared to May 7.
$1 = RMB 6.4525