During the week ending March 1, metallurgical coke prices in the Chinese domestic market have moved on a stable trend, while transaction activity in the overall market has been at low-to-medium levels. As of March 1, coke futures contract (1905) offers at Dalian Commodity Exchange closed at RMB 2,168/mt ($324/mt), up $3/mt week on week. Average coke prices in the local Chinese market are presented in the following table.
During the given week, domestic coking plants’ capacity utilization rates have increased compared to the previous week. Production cuts have been implemented in northern China due to heavy pollution, though no production cuts have been heard in other regions of China. Steelmakers’ coke inventories have increased and are now at relatively high levels, and so their coke purchases are expected to be limited in the coming period. However, production cuts will likely continue due to the upcoming National People’s Congress and the Chinese Political Consultative Conference, and this in turn is expected to boost coke prices. It is expected that coke prices in the Chinese domestic market will move upwards in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
1,950 |
291 |
0 |
|
Zibo, Shandong |
2,050 |
306 |
0 |
||
|
Pingdingshan, Henan |
2,180 |
325 |
0 |
||
|
Tangshan |
2,065 |
308 |
0 |
||
|
Huaibei, Anhui |
2,220 |
331 |
0 |
||
|
Average |
2,093 |
312 |
0 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.70