During the week ending October 27, local coke prices in China have remained stable, even though futures prices have increased strongly, after the announcement of additional special bonds worth RMB 1 trillion bolstered market sentiments. Export coke prices have moved down during the week.
First-grade coke prices in Tangshan are at RMB 2,420/mt ($337/mt) ex-warehouse, moving sideways compared to October 20, according to SteelOrbis’ data.
Prices of coke in local markets in China
|
Product Name |
Specification |
Place of Origin |
Price（RMB/mt） |
Price ($/mt) |
Weekly Change（RMB/mt） |
Weekly Change（$/mt） |
|
Coke |
First grade （A<13.0,S<0.75,CSR>65.0） |
Hancheng, Shaanxi |
2,380 |
331.6 |
0.0 |
0.1 |
|
Zibo, Shandong |
2,570 |
358.0 |
0.0 |
0.1 |
||
|
Pingdingshan, Henan |
2,420 |
337.1 |
0.0 |
0.1 |
||
|
Tangshan |
2,420 |
337.1 |
0.0 |
0.1 |
||
|
Huaibei, Anhui |
2,470 |
344.1 |
0.0 |
0.1 |
||
|
Average |
2,452 |
341.6 |
0.0 |
0.1 |
including 13 percent VAT
During the given week, coke prices in the Chinese domestic market have moved sideways. China announced that it will issue additional special bonds worth RMB 1 trillion for 2023 in the October-December period this year, bolstering market sentiments to a certain degree. Pig iron outputs have risen slightly, resulting in relatively good demand for coke. At the same time, inventory of coke has been at a low level, exerting a positive impact on prices. However, steelmakers are expected to implement production restrictions, which may weaken the demand for coke and exert a negative impact on coke prices.
On October 27, offer prices of coke CSR65 in the export market have come to $340-345/mt FOB, down from $345-354/mt FOB on October 20.
As of Friday, October 27, coking coal futures at Dalian Commodity Exchange (DCE) have settled at RMB 1,821/mt ($254/mt), up by RMB 110/mt ($15.3/mt) or 6.5 percent week on week, risen by 2.71 percent compared to the previous trading day (October 26). Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,462.5/mt ($343/mt), increasing by RMB 146/mt ($20/mt) or 6.3 percent compared to October 20, up 2.22 percent compared to the previous trading day.
$1 = RMB 7.1784