Amid bearish sentiments with regard to future market developments, both local and export metallurgical coke prices in China have dropped this week. Specifically, according to market sources, on May 9, domestic met coke prices in China fell by RMB 200/mt ($30/mt) to RMB 3,800/mt ($565/mt) ex-works in Tangshan.
Meanwhile, export quotations for blast furnace (BF) coke have decreased by $20/mt compared to the previous levels, with the current numbers standing for BF (CSR 64/62%) at $600/mt FOB, with export quotations for BF (CSR 62/60%) at $580/mt FOB.
In the futures market likewise, prices in China trend downwards. As of Monday, May 9, coking coal prices at Dalian Commodity Exchange (DCE) have decreased by 2.7 percent over the past week, to RMB 2,651.5/mt ($395/mt). Meanwhile, coke futures prices are at RMB 3,395/mt ($506/mt), down 1.8 percent from the previous week.
$1 = RMB 6.71