During the week ending February 9, metallurgical coke prices in the Chinese domestic market have mostly continued to decline, while transaction activity in the overall market has been at low-to-medium levels. As of February 9, coke futures contract (1805) offers at Dalian Commodity Exchange closed at RMB 2,105.5/mt ($333/mt), up $7/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, domestic coking plants’ capacity utilization rates have edged up slightly, while steelmakers have continued to reduce their purchase prices for coke. Meanwhile, logistics companies have gradually been closing down their operations ahead of the holiday, resulting in rising inventories at coking plants. Accordingly, coking plants have been willing to lower their sales prices in order to reduce their inventories. Some steelmakers have been building up their stocks ahead of the Chinese New Year holiday. In the past four days, the Chinese stock market has seen sharp declines, with stock prices of coal companies also indicating significant decreases, which will likely exert some negative pressure on coke prices. It is thought that coke prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
1,860 |
295 |
0 |
|
Zibo, Shandong |
1,850 |
294 |
↓100 |
||
|
Pingdingshan, Henan |
1,990 |
316 |
↓50 |
||
|
Tangshan |
1,890 |
300 |
↓30 |
||
|
Huaibei, Anhui |
2,050 |
325 |
↓100 |
||
|
Average |
1,928 |
306 |
↓56 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.30