With increased expectations for a recovery of trading relations between China and Australia, Chinese suppliers of metallurgical coke appear to becoming more flexible in ongoing negotiations. Furthermore, the sharp drop in futures prices in China, which signals bearish sentiments towards the future prospects for the coking coal and metallurgical coke markets, has encouraged Chinese coke producers to accept lower coke prices in the spot market in particular.
Accordingly, today, January 4, first-grade coke prices in China have dropped by RMB 100/mt (almost $16/mt) compared to the previous levels, according to SteelOrbis’ data.
Prices of coke in local markets in China
|
Product Name |
Specification |
Place of Origin |
Price（RMB/mt） |
Price ($/mt) |
Weekly Change（RMB/mt） |
Weekly Change（$/mt） |
|
Coke |
First grade （A<13.0,S<0.75,CSR>65.0） |
Hancheng,Shaanxi |
2,940 |
425.3 |
-110 |
-15.9 |
|
Zibo ,Shandong |
3,080 |
445.5 |
-110 |
-15.9 |
||
|
Pingdingshan,Henan |
2,850 |
412.3 |
-110 |
-15.9 |
||
|
Tangshan |
2,930 |
423.8 |
-110 |
-15.9 |
||
|
Huaibei,Anhui |
2,950 |
426.7 |
-110 |
-15.9 |
||
|
Average |
2,950 |
426.7 |
-110 |
-15.9 |
including 13 percent VAT
Meanwhile, as of Wednesday, January 4, coking coal futures prices at Dalian Commodity Exchange (DCE) are at RMB 1,770/mt ($257.1/mt), decreasing by 5.1 percent compared to December 30. Meanwhile, coke futures prices have settled at RMB 2,583.5/mt ($375.3/mt), down 3.24 percent from previous levels.
$1= RMB 6.88