Latest situation in local Chinese coke market

During the week ending October 31, metallurgical coke prices in the Chinese domestic market have remained on a stable trend, while transaction activity in the overall market has been at decent levels. As of October 31, coke futures contract (1501) offers at Dalian Commodity Exchange closed at RMB 1,085/mt ($177/mt), down $4/mt week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
 
Although coking plants tried to increase their coke prices, domestic steelmakers have resisted any upticks in prices and so transaction prices have remained stable during the given week. Since demand for finished steel has not shown any significant improvement, steelmakers have sought to limit their costs on the coke and iron ore side. Although some coking plants are still in negotiation with steelmakers on price rises, it is thought that steelmakers are unlikely to accept higher prices. It is expected that coke prices in the Chinese domestic market will remain on a sideways trend in the coming week.