Sentiment becomes more bullish in local Chinese coke market

Friday, 11 April 2014 16:37:34 (GMT+3)   |   Shanghai
During the week ending April 11, the downtrend of metallurgical coke prices in the Chinese domestic market has slowed down, while transaction activity has continued to indicate some improvement. As of April 11, coke futures contract (1409) offers at Dalian Commodity Exchange closed at RMB 1,250/mt ($201/mt), down $2/mt week on week. Local coke prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.

The increase in coke purchasing activity by steelmakers as well as the rebound in prices of semi-finished steel and iron ore have been providing support for domestic coke prices in China. Recently, coking enterprises have reduced their output volumes, which is another positive factor for coke prices. Currently, sentiment in the coke market has become more bullish, with transaction activity returning to good levels. It is thought that Chinese domestic coke prices will likely move on a stable trend in the coming week. 


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