During the week ending April 2, import prices for premium hard coking coal in China have remained stable compared to last week, though a downward trend has continued in the local coke market. Tight supply of coking coal due to the ban on shipments from Australia has prevented prices from decreasing.
Prices for premium hard coking coal from Canada have remained at $216/mt CFR, unchanged from last week, while quotations of ex-Russia lower quality coking coal have been at $164/mt CFR, up $4/mt compared to March 26.
Quotations of premium hard coking coal from Australia are equivalent to $133/mt CFR China, down $1/mt week on week. Hard coking coal prices are at $117/mt CFR, down $1.5/mt compared to the previous week. Prices are nominal since shipments from Australia are banned in China and Australian suppliers are focusing on sales to other destinations, like India.
Coke prices in Tangshan are at RMB 2,000/mt ($321/mt) ex-warehouse, moving down by RMB 100/mt ($15.2/mt) compared to March 26, according to SteelOrbis’ data.
During the given week, coking producers’ capacity utilization rates have decreased slightly amid the production restrictions in Inner Mongolia and Tangshan, though they are still at relatively high levels. In the past two weeks, traders and downstream users have been more willing to buy coke, resulting in an improvement in transaction activities. Finished steel prices have risen, exerting a positive impact on the coke market.
As of Friday, April 2, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,385.5/mt ($364/mt), increasing by RMB 174/mt ($26.5/mt) or 7.87 percent compared to March 26.
$1 = RMB 6.5649