During the week ending June 12, import premium hard coking coal quotations in China have edged up amid better transaction activities in the international market. In particular, India has become more active in purchases.
Quotations of premium hard coking coal from Australia are at $119.5/mt CFR China, increasing by $1.5/mt compared to last week. Hard coking coal prices are at $98/mt CFR, moving sideways week on week.
Coke prices in Tangshan are at RMB 1,850/mt ($261.1/mt) ex-warehouse, moving up by RMB 50/mt ($7.1/mt) compared to the previous week, according to SteelOrbis’ data.
During the given week, coking plants’ capacity utilization rates have remained in line with last week due to the production restrictions in Shandong Province. Inventory of coke at coking plants has continued to decrease amid good booking activity from downstream users. The capacity utilization rates of blast furnaces have been at high levels, providing solid support for coke prices. It is expected that coke prices in the Chinese domestic market will likely edge up in the coming week.
As of Friday, June 12, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 1,970/mt ($278/mt), increasing by RMB 16/mt ($2.3/mt) or 0.8 percent compared to June 5.
$1 = RMB 7.0865
