During the week ending November 25, while metallurgical coke prices in a few regions in China have seen a slight decline due to the influence of decreasing prices of iron ore and steel products, on the whole the prices of coke in China have remain unchanged compared to the previous week. Meanwhile, the main coke futures contract price at Dalian Commodity Exchange has dropped by $7/mt week on week, with the price closing at RMB 1,963/mt ($309/mt).
As of November 25, the average spot price of second grade metallurgical coke in China stood at $306/mt, with most coke quotations in the country remaining stable compared to last week. Local coke prices in China can be viewed in the SteelOrbis price reports section.
Currently, many domestic steel mills prefer to reduce their purchase volumes of coke, and hope that coke enterprises may thus reduce their offers. Indeed, in Shanxi province a few coke producers have reduced their quotations slightly. At present, coke producers in China are facing lower sales volumes and higher inventory. In addition, the recent softening of iron ore prices has contributed somewhat to increasing the downward pressure on coke prices. In the coming week, it is expected that coke prices in China will move sideways on the whole, perhaps with slight decreases in some regions.