During the week ending March 8, metallurgical coke prices in the Chinese domestic market have moved on a stable trend, while transaction activity in the overall market has been at low-to-medium levels. As of March 8, coke futures contract (1905) offers at Dalian Commodity Exchange closed at RMB 2,024/mt ($301/mt), down $23/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, domestic coking plants’ capacity utilization rates have decreased significant as coking plants in northern China have implemented production cuts against the backdrop of heavy pollution. At the same time, coke inventories have continued to decrease, providing support for coke prices. However, steelmakers’ profit margins have narrowed and so they have been exerting downward pressure on coke prices. It is expected that coke prices in the Chinese domestic market will continue to move sideways in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
1,950 |
290 |
0 |
|
Zibo, Shandong |
2,050 |
305 |
0 |
||
|
Pingdingshan, Henan |
2,180 |
324 |
0 |
||
|
Tangshan |
2,065 |
307 |
0 |
||
|
Huaibei, Anhui |
2,220 |
330 |
0 |
||
|
Average |
2,093 |
311 |
0 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.72