During the week ending April 10, metallurgical coke prices in the Chinese domestic market have mostly indicated a downtrend, though prices in Tangshan and Huaibei have moved sideways, while transaction activity in the overall market has been at decent levels. As of April 10, coke futures contract (1509) offers at Dalian Commodity Exchange closed at RMB 890/mt ($143/mt), down $6/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, inventory levels of coke in the domestic market have risen, exerting a negative impact on local coke prices. At the same time, iron ore prices have continued to soften, which has also influenced prices of coke. Steelmakers have stepped up their coke purchases in order to replenish stocks, resulting in improved transaction activities. Meanwhile, futures prices of finished steel, iron ore and coke have indicated sharp downtrends. It is expected that coke prices in the Chinese domestic market will continue their slight downward movement in the coming week.
$1 = RMB 6,21