During the week ending March 6, metallurgical coke prices in the Chinese domestic market have mostly indicated a slight downtrend, though remaining stable in some regions, while transaction activity in the overall market has remained slack. As of March 6, coke futures contract (1505) offers at Dalian Commodity Exchange closed at RMB 1,001/mt ($160/mt), down $3.0/mt week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
During the given week, since activity in the domestic finished steel market has generally remained sluggish and as iron ore prices in the futures and spot markets have indicated a soft trend, Chinese steelmakers have been putting pressure on coking plants and coke traders to reduce their prices. Meanwhile, coal prices in the Chinese domestic market have indicated a decreasing trend, negatively impacting coke prices from the cost side. It is expected that coke prices in China will continue their slight downtrend in the coming week as steelmakers will likely maintain their downward pressure on prices of the raw material.