During the given week, steelmakers insisted on lowering their purchasing prices for coke and so some coke traders lowered their coke prices slightly. However, steelmakers are not satisfied with the decrease margins and are reluctant to conclude purchases, resulting in reduced transaction activity. Currently, steelmakers and coking enterprises are involved in a new round of price negotiations. As steelmakers have finished their replenishments for winter, they are less willing to purchase and so demand for coke is slack. It is expected that coke prices in the Chinese domestic market will move down slightly in the coming week due to weakened demand amid the approach of the Spring Festival.
Latest situation in local Chinese coke market
During the week ending January 30, metallurgical coke prices in the Chinese domestic market have indicated some slight downticks in certain regions, though some prices have also remained stable, while transaction activity in the overall market has been at low levels. As of January 30 coke futures contract (1505) offers at Dalian Commodity Exchange closed at RMB 1,025/mt ($164/mt), down $2/mt week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
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