During the week ending December 22, metallurgical coke prices in the Chinese domestic market have indicated an upward trend, while transaction activity in the overall market has been at low-to-medium levels. As of December 22, coke futures contract (1805) offers at Dalian Commodity Exchange closed at RMB 2,118/mt ($322/mt), up $11/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, coking plants’ capacity utilization rates have increased slightly against the backdrop of rising coke prices. However, traders are now less willing to conclude purchases due to the rise in coke prices. At the same time, inventory levels on the steelmakers’ side have increased slightly, which may exert negative pressure on coke prices in the coming week. Moreover, coking coal prices have increased, which will provide support from the cost side for coke prices. It is thought that coke prices in the Chinese domestic market will again move upwards in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
2,110 |
321 |
↑150 |
|
Zibo, Shandong |
2,200 |
335 |
↑150 |
||
|
Pingdingshan, Henan |
2,090 |
318 |
↑200 |
||
|
Tangshan |
2,225 |
339 |
↑150 |
||
|
Huaibei, Anhui |
2,250 |
342 |
↑150 |
||
|
Average |
2,175 |
331 |
↑160 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.57