During the week ending July 11, metallurgical coke prices in the Chinese domestic market have remained on a stable trend, while transaction activity has been at decent levels. As of July 11, coke futures contract (1409) offers at Dalian Commodity Exchange closed at RMB 1,090/mt ($178/mt), down $4/mt week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
During the given week, domestic steelmakers have been purchasing decent volumes of coke providing support for the sideways movement of coke market prices. In addition, the stable trends of finished steel and iron ore prices have also been providing support for coke prices. Most market participants think that demand for finished steel products and raw materials is unlikely to indicate significant improvement during the summer season, while it is thought that demand for coke will likely slacken in the coming period. It is expected that coke prices in the Chinese domestic market will move on a slight downtrend in the week ahead.