During the week ending January 13, average metallurgical coke prices in the Chinese domestic market have continued their downtrend, while transaction activity in the overall market has been at low levels. As of January 13, coke futures contract (1705) offers at Dalian Commodity Exchange closed at RMB 1,699.5/mt ($246/mt), up $23/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, Chinese steelmakers have reduced their purchases of coke and demand has been slack, exerting negative pressure on coke prices in the spot market as the Chinese New Year holiday approaches. Meanwhile, speculative activity has resumed in the ferrous metal futures market in China. Sentiment in the coke market on the prospects for an improvement in purchasing activity is not positive. It is thought that coke prices in the Chinese domestic market will likely move sideways in the week ahead.
Product name | Specification | Place of origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Coke | Second grade | Hancheng, Shaanxi | 1,750 | 254 | ↓50 |
Zibo, Shandong | 1,930 | 280 | ↓50 | ||
Pingdingshan, Henan | 1,900 | 275 | ↓50 | ||
Tangshan | 1,900 | 275 | ↓50 | ||
Huaibei, Anhui | 2,050 | 297 | 0 | ||
Average | 1,906 | 276 | ↓40 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.90