During the week ending July 30, import quotations for coking coal in China have moved up amid demand, while supply has remained limited amid curbs in Shanxi and reduced offers from North America.
Prices for coking coal from Canada have reached $317.5/mt CFR, up $9/mt over the week. A deal for the premium material from North America has been signed at $315/mt CFR this week. And the new targeted level of suppliers is $320-325/mt CFR, which could be achieved soon, market sources believe. Prices for lower grade coal from Russia are at $212/mt CFR, up $2/mt compared to July 23.
Quotations of premium hard coking coal from Australia correspond to $238/mt CFR China, up $3.5/mt compared to that recorded in last week. Hard coking coal prices are at $181.5/mt CFR, up $1/mt compared to the previous week.
Coke prices in Tangshan are at RMB 2,600/mt ($402.5/mt) ex-warehouse, remaining stable compared to that recorded on July 23, according to SteelOrbis’ data.
During the given week, coke prices in the Chinese domestic market have moved sideways, though coking plants prepared for raising their coke prices. Demand and supply of coke has been in a balanced situation. The supply of local coking coal in China will unlikely see rises, which will bolster its prices and provide certain support to coke prices in the coming weeks. It is thought that coke prices in the Chinese domestic market may edge up.
As of Friday, July 30, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,943/mt ($455.6/mt), increasing by RMB 173.5/mt ($26.9/mt) or 6.26 percent compared to July 23.
$1 = RMB 6.4602
