During the week ending January 19, metallurgical coke prices in the Chinese domestic market have mostly moved downwards, though remaining stable in Pingdingshan and Huaibei, while transaction activity in the overall market has been at low-to-medium levels. As of January 19, coke futures contract (1805) offers at Dalian Commodity Exchange closed at RMB 1,987/mt ($309/mt), down $1/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, Chinese coking plants’ capacity utilization rates have increased further. However, finished steel prices in China have indicated significant decreases, exerting a negative impact on steelmakers’ coke purchases. Steelmakers with high coke inventories have tried to exert downward pressure on coke prices. Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) have decreased, which will negatively affect coke prices in the spot market. It is thought that coke prices in the Chinese domestic market will likely move down further in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
2,060 |
322 |
↓100 |
|
Zibo, Shandong |
2,050 |
320 |
↓200 |
||
|
Pingdingshan, Henan |
2,290 |
358 |
0 |
||
|
Tangshan |
2,050 |
320 |
↓200 |
||
|
Huaibei, Anhui |
2,350 |
367 |
0 |
||
|
Average |
2,160 |
338 |
↓100 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.40