During the week ending September 27, 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 September 27, coke futures contract (2001) offers at Dalian Commodity Exchange closed at RMB 1,876.0/mt ($265/mt), down $9/mt or 3.2 percent compared to that recorded on September 20. Average coke prices in the local Chinese market are presented in the following table.
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Coke |
Second grade |
Hancheng,Shaanxi |
1,700 |
240.4 |
0.0 |
|
Zibo ,Shandong |
1,800 |
254.5 |
0.0 |
||
|
Pingdingshan,Henan |
1,850 |
261.6 |
0.0 |
||
|
Tangshan |
1,850 |
261.6 |
0.0 |
||
|
Huaibei,Anhui |
1,830 |
258.7 |
0.0 |
||
|
Average |
1,806 |
255.3 |
0.0 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, Chinese coking plants’ capacity utilization rates have decreased as most of them have been required to cut production. Traders have been unwilling to build up stocks as they are not sure of the likely trend after the long holiday. Meanwhile, steelmakers have also implemented production restriction measures, which have exerted a negative impact on the demand for coke. It is expected that coke prices in the Chinese domestic market will again move sideways in the coming week.
$1 = RMB 7.073