During the week ending October 15, import quotations for coking coal in China have continued their rising trend amid the need to restock after the holidays, while the tight supply situation has not changed so far.
Prices for coking coal from the US and Canada have increased further this week, reaching $608-610/mt CFR. At the higher end of the range, a deal for premium ex-US coking coal was done in the middle of the week. Late last week, prices for the premium material from North America were at $595-607/mt CFR.
Ex-Russia local quality material has been priced at $435/mt CFR, up $5/mt compared to October 8.
Quotations of premium hard coking coal from Australia are equivalent to $430/mt CFR China, up $5/mt compared to last week. Ex-Australia hard coking coal prices correspond to $345/mt CFR, up $9/mt.
Coke prices in Tangshan are at RMB 4,160/mt ($644/mt) ex-warehouse, moving sideways compared to October 8, according to SteelOrbis’ data.
During the given week, coke prices in the Chinese domestic market have moved sideways amid the slightly decreasing capacity utilization rates on coking plants’ side. Inventory levels of coke have risen, exerting a negative impact on prices. Some steelmakers have been seeking to reduce coke purchase prices and so they have held a wait-and-see stance as regards concluding purchases of coke. It is thought that coke prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.