During the given week, domestic steelmakers have continued to conclude purchases of coke to meet their needs, while supply pressure still exists in the coke market, resulting in decreases in local coke prices in some parts of the country. Lately, iron ore spot prices have been moving on a stable trend, while iron ore futures prices have indicated a slight rebound, exerting a positive impact on the coke market. In order to lower inventory levels in the coke market, coking plants have reduced their outputs, hoping to provide some support for coke prices. It is expected that coke prices in the Chinese domestic market will move on an overall stable trend in the coming week.
Latest situation in local Chinese coke market
During the week ending April 17, metallurgical coke prices in the Chinese domestic market have indicated a downtrend in Hancheng and Tangshan, though prices in other cities moved on a stable trend, while transaction activity in the overall market has been at decent levels. As of April 17, coke futures contract (1509) offers at Dalian Commodity Exchange closed at RMB 911/mt ($147/mt), up $3/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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