During the week ending December 23, average metallurgical coke prices in the Chinese domestic market have mostly indicated a declining trend, while transaction activity in the overall market has been at low-to-medium levels. As of December 23, coke futures contract (1705) offers at Dalian Commodity Exchange closed at RMB 1,646/mt ($239/mt), down $15/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, the previous increases in China’s coke prices boosted confidence among coke producers, causing them to increase production, with the rise in supply exerting pressure on prices. Meanwhile, China’s finished steel prices have indicated downward corrections and so steelmakers have been looking for reductions in coke prices. Moreover, coke futures prices in China have decreased and so market players are mostly maintaining a wait-and-see stance. It is thought that coke prices in the Chinese domestic market will likely continue to move down in the week ahead.
Product name | Specification | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | Second grade | Hancheng, Shaanxi | 1,950 | 281 | ↓30 |
Zibo, Shandong | 2,100 | 303 | ↓30 | ||
Pingdingshan, Henan | 2,030 | 293 | 0 | ||
Tangshan | 2,070 | 298 | ↓30 | ||
Huaibei, Anhui | 2,150 | 310 | ↑20 | ||
Average | 2,060 | 297 | ↓14 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.94