During the week ending February 19, import quotations in China have indicated only small changes for premium hard coking coal and hard coking coal prices from Canada and Russia. At the same time, prices for coking coal from Australia are under pressure as the ban on imports to China is unlikely to be lifted very soon, sources believe.
Quotations of coking coal from Canada and Russia are at $220/mt CFR and $190/mt CFR, up $3/mt and remaining stable, compared to February 5, respectively.
Meanwhile, the level for premium hard coking coal from Australia is equivalent to $162/mt CFR China, down $6/mt compared to early February. Ex-Australia hard coking coal prices correspond to $139/mt CFR, down $4/mt.
Coke prices in Tangshan are at RMB 2,800/mt ($433/mt) ex-warehouse, moving sideways compared to the week before the long Chinese New Year holiday, according to SteelOrbis’ data.
During the given week, Chinese steelmakers’ inventories of coke have decreased slightly compared to the pre-holiday period, while transportation activity has resumed, which will be good for stock replenishment. Production of coke and steel will resume quickly next week, which will exert a positive impact on coke prices.
As of Friday, February 19, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,711.5/mt ($420/mt), increasing by RMB 160.5/mt ($24.8/mt) or 6.3 percent compared to February 5.
$1 = RMB 6.4624
