During the week ending November 17, metallurgical coke prices in the Chinese domestic market have mostly continued their downward trend, though remaining stable in Tangshan, while transaction activity in the overall market has been at low levels. As of November 17, coke futures contract (1801) offers at Dalian Commodity Exchange closed at RMB 1,836/mt ($277/mt), up $2/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, coking plants’ capacity utilization rates continued to decline due to production cuts within the scope of environmental protection measures. Downstream users have been exerting downward pressure on coke prices. However, inventory levels of coke have decreased slightly, which will likely have a positive impact on the coke market. Meanwhile, coking coal prices have declined, easing the pressure from the cost side to some extent. As for the coming period, demand for coke will slacken due to lower production capacity utilization rates on the steelmakers’ side. It is thought that coke prices in the Chinese domestic market will edge down further in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
1,560 |
235 |
↓20 |
|
Zibo, Shandong |
1,550 |
234 |
↓100 |
||
|
Pingdingshan, Henan |
1,670 |
252 |
↓60 |
||
|
Tangshan |
1,615 |
244 |
0 |
||
|
Huaibei, Anhui |
1,900 |
287 |
↓130 |
||
|
Average |
1,659 |
250 |
↓62 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.63