During the week ending April 12, metallurgical coke prices in the Chinese domestic market have moved on a decreasing trend, while transaction activity in the overall market has been at low-to-medium levels. As of April 12, coke futures contract (1909) offers at Dalian Commodity Exchange closed at RMB 2,031/mt ($302/mt), up $13/mt compared to RMB 1,945/mt ($289/mt) recorded on March 29. Average coke prices in the local Chinese market are presented in the following table.
During the given week, though demand for coke has improved as blast furnaces’ capacity utilization rates have increased, the high inventory levels in the coke market have exerted a negative impact on coke prices. Meanwhile, coking plants have been unwilling to cut production, resulting in oversupply in the market. Steelmakers’ inventories of coke have indicated slight decreases recently, which will likely provide support for coke prices. It is expected that coke prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
1,700 |
253 |
↓50 |
|
Zibo, Shandong |
1,800 |
268 |
↓50 |
||
|
Pingdingshan, Henan |
1,850 |
275 |
↓50 |
||
|
Tangshan |
1,850 |
275 |
↓50 |
||
|
Huaibei, Anhui |
2,030 |
302 |
↓50 |
||
|
Average |
1,896 |
282 |
↓50 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.72