During the week ending February 22, metallurgical coke prices in the Chinese domestic market have mostly moved on a rising trend, while transaction activity in the overall market has been at low levels. As of February 22, coke futures contract (1905) offers at Dalian Commodity Exchange closed at RMB 2,163/mt ($322/mt), up $21/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the give week, domestic coking plants’ capacity utilization rates have decreased due to production cuts aimed at reducing pollution in northern China. Meanwhile, coke inventories have decline, providing support to coke prices. However, due to rises in prices of coke and iron ore, steelmakers have been unwilling to build up high stocks, thereby weakening the support for coke prices from the demand side. It is expected that coke prices in the Chinese domestic market will increase in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
1,950 |
290 |
↑100 |
|
Zibo, Shandong |
2,050 |
305 |
↑100 |
||
|
Pingdingshan, Henan |
2,180 |
324 |
0 |
||
|
Tangshan |
2,065 |
307 |
↑100 |
||
|
Huaibei, Anhui |
2,220 |
330 |
0 |
||
|
Average |
2,093 |
311 |
↑60 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.72