During the week ending May 23, local coke prices in China have moved sideways compared to May 16, though a second round of price cuts is still awaited amid weak demand.
First-grade coke prices in Tangshan are at RMB 1,375/mt ($191/mt) ex-warehouse, moving sideways compared to May 16, according to SteelOrbis’ data.
Prices of coke in local markets in China
| Product Name | Specification | Place of Origin | Price（RMB/mt） | Price ($/mt) | Weekly Change（RMB/mt） | Weekly Change（$/mt） |
| Coke | First grade （A<13.0,S<0.75,CSR>65.0） | Hancheng, Shaanxi | 1,335 | 185.6 | 0.0 | 0.1 |
| Zibo, Shandong | 1,525 | 212.0 | 0.0 | 0.1 | ||
| Pingdingshan, Henan | 1,375 | 191.2 | 0.0 | 0.1 | ||
| Tangshan | 1,375 | 191.2 | 0.0 | 0.1 | ||
| Huaibei, Anhui | 1,425 | 198.1 | 0.0 | 0.1 | ||
| Average | 1,407 | 195.6 | 0.0 | 0.1 |
including 13 percent VAT
Prices of coking coal in local markets in China
| Product Name | Specification | Place of Origin | Price（RMB/mt） | Price ($/mt) | Weekly Change（RMB/mt） | Weekly Change（$/mt） |
| Coking Coal | A9,S0.4,V19,G88 | Linfen low-sulfur primary coking coal | 1,230 | 171.0 | -20.0 | -2.7 |
| A10.5,S3,V25,G80 | Lveliang high-sulfur primary coking coal | 900 | 125.1 | -40.0 | -5.5 | |
| A10,S1.8,V21,G90 | Jinzhong medium-sulfur primary coal | 948 | 131.8 | -22.0 | -3.0 | |
| A12,S1.2,V37.G90 | Linfen low-sulfur 1/3 coking coal | 960 | 133.5 | 0.0 | 0.0 | |
| Average | 1,009.5 | 140.4 | -20.5 | -2.8 |
During the given week, average coking coal prices in the Chinese domestic market have edged down amid the increasing inventories. Most market players held a wait-and-see stance in concluding purchases. Most of the coal washing plants stopped washing coal and chose to reduce the existing stocks. At the same time, demand for coking coal from coking plants and steelmakers have been slack, exerting a negative impact on its prices.
Coke prices have remained stable in the given week following previous price declines. Inventory of coke has decreased, easing the pressure on prices to a certain degree. Molten iron outputs have started to decrease from the peak level, resulting in slacker demand for coke. Steelmakers have been unwilling to buy in the current period. It is thought that coke prices in the Chinese domestic market will likely see another round of price cuts in the coming week.
On May 23, offer prices of coke CSR65 in the export market are at $218/mt FOB, decreasing by $6/mt compared to May 16.
As of May 23, coking coal futures at Dalian Commodity Exchange (DCE) are standing at RMB 801.5/mt ($111.3/mt), decreasing by RMB 51/mt ($7.1/mt) or 6.0 percent since May 16, while down 4.01 percent compared to the previous trading day, May 22. Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) are standing at RMB 1,383/mt ($192/mt), decreasing by RMB 62.5/mt ($8.7/mt) or 4.3 percent since May 16, while down 1.81 percent compared to the previous trading day, May 22.
$1 = RMB 7.1919