Although this week metallurgical coke prices in China have remained unchanged week on week, moods among market insiders have strongly improved. With Chinese steelmakers having become quite active in restocking lately, inventories have notably decreased. According to sources, stocks of Chinese coke producers have declined by around ten percent week on week, to 693,100 mt. The average daily output of coke, on the contrary, has not seen significant increases, which may bolster coke prices in the coming week. The recent sharp rise in futures prices, following a coal mine accident in northern China, may provide additional support for suppliers in the spot market.
On balance, first-grade coke prices in Tangshan have remained at RMB 2,840/mt ($412/mt) ex-warehouse, moving sideways compared to February 17, according to SteelOrbis’ data.
Prices of coke in local markets in China
Product Name |
Specification |
Place of Origin |
Price（RMB/mt） |
Price ($/mt) |
Weekly Change（RMB/mt） |
Weekly Change（$/mt） |
Coke |
First grade （A<13.0,S<0.75,CSR>65.0） |
Hancheng,Shaanxi |
2,830 |
410.5 |
0.0 |
-1.7 |
Zibo ,Shandong |
2,970 |
430.8 |
0.0 |
-1.8 |
||
Pingdingshan,Henan |
2,740 |
397.4 |
0.0 |
-1.6 |
||
Tangshan |
2,820 |
409.1 |
0.0 |
-1.7 |
||
Huaibei,Anhui |
2,840 |
412.0 |
0.0 |
-1.7 |
||
Average |
2,840 |
412.0 |
0.0 |
-1.7 |
including 13 percent VAT
Meanwhile, SteelOrbis has heard that Russian coking coal supplier Elga Coal Company has managed to increase its deal prices by RMB 50/mt ($7/mt) compared to the previous levels to around $222-225/mt CFR equivalent. For April shipments, the company is said to be aiming for another increase. Nevertheless, another Russian company Mechel has reportedly accepted $226/mt CFR in its latest sale of pulverised coal injection (PCI), down $13-14/mt from the general levels of previous weeks. However, the information has yet to confirmed by the time of publication.
As of Friday, February 24, coal futures prices at Dalian Commodity Exchange (DCE) have increased by 8.04 percent week on week, to RMB 2,049.5/mt ($297/mt), while coke futures are at RMB 2,952.5/mt ($428.5/mt), rising by RMB 121/mt ($17.6/mt) or 4.3 percent compared to February 17.
$1 = RMB 6.8942
