During the week ending April 24, import hard coking coal quotations in China have moved down due to the slack demand in the global market, especially in the European market, amid sufficient supply. Control measures at southern ports in China have also exerted a negative impact on coking coal prices.
Quotations of premium hard coking coal from Australia are at $132/mt CFR China, decreasing by $11/mt compared to last week. Hard coking coal prices are at $117/mt CFR, down by $8/mt week on week.
Coke prices in Tangshan are at RMB 1,650/mt ($233.1/mt) ex-warehouse, moving sideways compared to the previous week, according to SteelOrbis’ data.
During the given week, capacity utilization rates of blast furnaces of Chinese steelmakers have increased, while traders have been cautious as regards concluding purchases of coke. Meanwhile, coking plants’ capacity utilization rates have increased further amid decreasing coking coal prices. However, high inventories of steel and the shrining profitability of steelmakers will negatively affect coke prices. It is thought that coke prices in China will likely move sideways in the coming week.
As of Friday, April 24, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 1,715/mt ($227.5/mt), decreasing by RMB 15/mt ($2.1/mt) or 0.87 percent compared to April 17.
$1 = RMB 7.0803
