During the week ending December 27, import coking coal quotations in China have moved sideways, while metallurgical coke prices in the Chinese domestic market have seen increases in some cities.
In the given period, quotations of premium hard coking coal from Australia have been at $150/mt CFR China, remaining stable compared to last week. Hard coking coal prices are at $135/mt CFR on December 27.
Coke prices in Tangshan, Hancheng and Zibo are at RMB 1,900/mt ($271.9/mt), RMB 1,750/mt ($250.4/mt), RMB 1,850/mt ($264.7/mt) ex-warehouse, respectively, all up RMB 50/mt ($7.2/mt) compared to the previous week, according to SteelOrbis’ data.
During the given week, coking plants’ capacity utilization rate decreased, resulting in declines in their inventory levels of coke, providing certain support to coke prices. However, steelmakers have been cautious in concluding purchases for coke due to demand for steel slackened amid cold weather and approaching holidays. It is expected that coke prices in the Chinese domestic market will move sideways in the coming week.
Coke futures prices at Dalian Commodity Exchange (DCE) have declined by RMB 16.5/mt ($2.4/mt) or 0.88 percent as of Friday, December 27, compared to December 20.
$1 = RMB 6.988
