Domestic steelmakers' insistence on lowering purchasing prices for coke has exerted strong pressure on coke producers and traders in China in the past week, though producers have been reluctant to cut their sales prices due to their low inventory levels. However, some coke traders have cut their coke prices in order to ease pressure from their own inventories, resulting in slight declines in coke prices in some regions of China. Since there are only a few trading days left before the Spring Festival holiday (February 18-24), transaction activity has almost become stagnant. It is expected that coke prices in the Chinese domestic market will likely witness a slight rebound after the Spring Festival holiday due to positive expectations for the finished steel and raw materials markets.
Latest situation in local Chinese coke market
During the week ending February 13, metallurgical coke prices in the Chinese domestic market have continued to indicate some slight downticks in certain regions, though prices in other regions have remained stable, while transaction activity in the overall market has continued to be poor. As of February 13, coke futures contract (1505) offers at Dalian Commodity Exchange closed at RMB 1,040/mt ($166.6/mt), almost remaining stable week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
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