During the week ending September 3, import quotations for hard coking coal in China have continued to rise significantly as supply tightness still exists and is unlikely to ease soon, while demand has persisted.
Prices for premium hard coking coal from North America have been reported at the level of $429/mt CFR, up $22/mt compared to August 27. And prices may reach $450/mt CFR in the short term, market sources believe as offers have already been seen at $440/mt CFR and higher. Second-tier material has been offered at $410-415/mt CFR. The price level for lower quality ex-Russia hard coking coal has been at $318/mt CFR, up $15/mt over the past week.
Quotations of premium hard coking coal from Australia are equivalent to $284.5/mt CFR China, up $28/mt compared to last week. Hard coking coal prices correspond to $213/mt CFR, up $21.5/mt compared to the previous week.
Coke prices in Tangshan are at RMB 3,560/mt ($551/mt) ex-warehouse, rising by RMB 240/mt ($37/mt) compared to August 27, according to SteelOrbis’ data.
During the given week, coke prices in the Chinese domestic market have continued their rising trend amid declining inventory levels and bullish sentiments among market players. Coking coal prices have edged up further, and demand has been quite good. It is thought that coke prices may edge up further in the coming week.
As of Friday, September 3, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 3,336.5/mt ($516.5/mt), increasing by RMB 172/mt ($26.6/mt) or 5.4 percent compared to August 27.
$1 = RMB 6.4577