Having faced obstacles delivering material due to strict lockdown restrictions in China, Chinese producers of metallurgical coke have proposed to increase prices in their coming deals by RMB 200/mt ($31/mt). The opinions of market insiders differ radically from each other. In particular, there are those who believe the price rise is based on higher coking coal prices, while other players are convinced that the uptrend, if there is any, will not last long. “The attempts to raise prices after the Qingming Festival may be the final one. The future is not looking very good, and prices may start to fall in May,” one met coke seller in China stated.
For now, coke prices in Tangshan are at RMB 3,460/mt ($544/mt) ex-warehouse, moving sideways compared to April 1, according to SteelOrbis’ data.
Meanwhile, export quotations for blast furnace (BF) coke (CSR 62%) rose to $640-645/mt FOB from $630/mt FOB at the beginning of the current week and from $605/mt FOB at the end of last week. Moreover, some sellers have been testing the market with offers at $655/mt FOB.