With the continuous improvement seen in the Chinese coke market, prices in the east and north registered a minor rise again over the past week. In general, the recovery of the finished steel prices is the main reason behind the amelioration in the coke market. Meanwhile, China's coke exports hit a new low in April, amounting to only 20,000 mt.
Product name |
Specification |
Place of origin |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Average price ($/mt) |
Weekly change ($/mt) |
Coke |
2nd grade |
Shanxi |
1,550 |
50 |
227 |
7 |
Shanghai |
1,650 |
50 |
241 |
7 |
Remaining on its upward trend, the Chinese coke market was still characterized by tight supply throughout the past week. At present, the mainstream quotations of second grade coke from large producers in Shanxi Province are up RMB 50/mt ($7/mt) to the range of RMB 1,500-1,550/mt ($220-227/mt), while Hebei Province-based producers hiked their ex-factory prices for second grade coke to the level of RMB 1,600/mt ($235/mt). Meanwhile, the prices of second grade coke in Huaibei, Anhui Province are up RMB 50/mt ($7/mt) to RMB 1,550-1,650/mt ($227-241/mt). Additionally, the market prices of coking coal have remained constant at RMB 1,100-1,200/mt ($162-176/mt), but some mines are planning to raise their price levels.
In recent days, the considerable ascension in finished steel prices has propped up the various raw material markets on the whole. Against the background of the relatively low coke inventory levels as well as the production halts implemented by various coking enterprises, coke producers have taken the opportunity to make upward adjustments to their ex-factory prices. Since most Chinese mills have been registering improved business activity, the current coke price increase has been generally accepted.
According to the statistics released by China's General Administration of Customs, China's coke exports for April totaled only 20,000 mt, down 98.5 percent year on year, marking the lowest monthly level since 2006. From January to April this year, total coke exports reached 180,000 mt, a sharp slump of 4.28 million mt or 95.9 percent year on year. Meanwhile, the average export price in April also slipped to $361.4/mt compared with the price level of $379.9/mt in the same month last year, marking a decline of five percent.