During the week ending February 15, metallurgical coke prices in the Chinese domestic market have continued to move on a stable trend, while transaction activity in the overall market has been at low levels. As of February 15, coke futures contract (1905) offers at Dalian Commodity Exchange closed at RMB 2,043/mt ($301/mt), down $13/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, demand for coke from downstream users has been good, while supply has still been tight as not all coke producers have returned to the market yet. Steelmakers’ coke inventories have decreased and so they are expected to replenish their coke stocks in the near future. However, at the same time, rising iron ore prices will squeeze steelmakers’ profitability and may thereby negatively impact their replenishment of coke stocks. It is expected that coke prices in the Chinese domestic market will increase in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Change (01.02.2019) (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
1,850 |
273 |
0 |
|
Zibo, Shandong |
1,950 |
288 |
0 |
||
|
Pingdingshan, Henan |
2,180 |
322 |
0 |
||
|
Tangshan |
1,965 |
290 |
0 |
||
|
Huaibei, Anhui |
2,220 |
327 |
0 |
||
|
Average |
2,033 |
300 |
0 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.78