During the week ending March 2, metallurgical coke prices in the Chinese domestic market have mostly moved upwards, while transaction activity in the overall market has been at decent levels. As of March 2, coke futures contract (1805) offers at Dalian Commodity Exchange closed at RMB 2,245/mt ($353/mt), up $3/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, although coke inventories held by steelmakers are at relatively high levels, steelmakers have continued to build up inventories as they expect better demand after mid-March when blast furnaces will increase production after the winter season restrictions. Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) have increased, exerting a positive impact on coke prices in the spot market. It is thought that coke prices in the Chinese domestic market will likely move up further in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
1,860 |
293 |
0 |
|
Zibo, Shandong |
1,950 |
307 |
↑100 |
||
|
Pingdingshan, Henan |
2,090 |
329 |
↑100 |
||
|
Tangshan |
1,990 |
313 |
↑100 |
||
|
Huaibei, Anhui |
2,100 |
331 |
↑50 |
||
|
Average |
2,045 |
322 |
↑117 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.35