During the week ending October 30, import quotations in China have moved up for premium hard coking coal, though edging down for hard coking coal.
Quotations of premium hard coking coal from Australia are at $130/mt CFR China, up $4/mt compared to last week. Hard coking coal prices are at $111/mt CFR, down $3/mt compared to the previous week.
Coke prices in Tangshan are at RMB 2,050/mt ($305/mt) ex-warehouse, moving sideways compared to the previous week, according to SteelOrbis’ data.
During the given week, coking plants’ capacity utilization rates have been at relatively high levels. Inventory of coke on the steelmakers’ side has decreased amid rising steel prices. Though steelmakers have been willing to accept the rises in coke prices, they will not accept big rises due to their meager profits. Coal supply will be negatively affected, which will bolster coke prices to some extent.
As of Friday, October 30, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,189/mt ($325.6/mt), increasing by RMB 70.5/mt ($10.5/mt) or 3.33 percent compared to October 23.
$1 = RMB 6.7232
