Latest situation in local Chinese coke market

During the week ending December 5, metallurgical coke prices in the Chinese domestic market have remained on a stable trend, while transaction activity in the overall market has continued to be at decent levels. As of December 5, coke futures contract (1501) offers at Dalian Commodity Exchange closed at RMB 1,066/mt ($174/mt), unchanged week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
 
During the given week, coke inventory has declined at Tianjin port, while inventories held by coking plants have also decreased slightly, reflecting the decent demand from steelmakers which has been providing some support for the stability of coke prices. Currently, strong pressure does not exist on the supply side and so bullish sentiment is observed among coke producers as regards the future prospects for coke prices. However, steelmakers are still somewhat cautious given the lack of improvement in finished steel prices. It is thought that coke prices in the Chinese domestic market will likely continue their stable trend in the coming week.