During the week ending August 10, metallurgical coke prices in the Chinese domestic market have moved on an upward trend, while transaction activity in the overall market has been at medium levels. As of August 10, coke futures contract (1901) offers at Dalian Commodity Exchange closed at RMB 2,421/mt ($353/mt), up $7/mt compared to RMB 2,375/mt recorded on August 3 for coke futures contract (1901). Average coke prices in the local Chinese market are presented in the following table.
During the given week, coke prices have moved up due to low inventory level and decent demand from downstream users. Meanwhile, coking plants have mostly held an optimistic attitude towards prospect for the future market because of strict environmental protection policy. At the same time, finished steel prices have moved sideways at high levels, providing certain support to coke prices. Moreover, coking coal prices have also edged up, bolstering coke prices from cost side. It is expected that coke prices in the Chinese domestic market will move up further in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Change |
|
Coke |
Second grade |
Hancheng, Shaanxi |
2,060 |
301 |
↑200 |
|
Zibo, Shandong |
2,160 |
315 |
↑200 |
||
|
Pingdingshan, Henan |
2,180 |
318 |
↑100 |
||
|
Tangshan |
2,130 |
311 |
↑150 |
||
|
Huaibei, Anhui |
2,210 |
323 |
↑50 |
||
|
Average |
2,148 |
314 |
↑140 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.85