During the week ending Mar 15, metallurgical coke prices in the Chinese domestic market have decreased, while transaction activity in the overall market has been at medium levels. As of Mar 15, coke futures contract (1905) offers at Dalian Commodity Exchange closed at RMB 1,994/mt ($297/mt), down $4/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, many domestic steelmakers’ capacity utilization rates have declined due to steel production restrictions implemented during the annual sessions of China’s parliament and its advisory body held in Beijing, resulting in lower demand for coke. Meanwhile, overall inventory levels of coke are at relatively high levels, and this has exerted negative pressure on coke prices. It is expected that domestic coke prices will continue to move down in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
1,850 |
276 |
↓100 |
|
Zibo, Shandong |
1,950 |
291 |
↓100 |
||
|
Pingdingshan, Henan |
2,150 |
320 |
↓30 |
||
|
Tangshan |
2,000 |
298 |
↓65 |
||
|
Huaibei, Anhui |
2,180 |
325 |
↓40 |
||
|
Average |
2,026 |
302 |
↓67 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.71