During the week ending August 9, metallurgical coke prices in the Chinese domestic market have mostly moved on a stable trend. However, some steelmakers decided to accept a RMB 100/mt coke price increase due to insufficient inventory of coke and the low volume of arrived goods.
Nevertheless, as of August 9, coke futures contract (1909) offers at the Dalian Commodity Exchange closed at RMB 1,935.5/mt ($275/mt), down $27/mt compared to the previous week.
Downstream steelmakers’ finished steel prices have indicated a declining trend, exerting a negative impact on their demand for coke. However, due to production cuts in the coking industry, coke output will likely decrease and bolster prices of the raw material to some extent. It is expected that coke prices in the Chinese domestic market will edge up in the coming week.
Average coke prices in the local Chinese market are presented in the following table:
|
Product name |
Specification |
Place of origin |
Price (RMB/mt) |
Price ($/mt) |
Change (RMB/mt) |
|
Coke |
Second grade |
Hancheng, Shaanxi |
1,800 |
257 |
0 |
|
Zibo, Shandong |
2,000 |
285 |
↑100 |
||
|
Pingdingshan, Henan |
1,950 |
278 |
0 |
||
|
Tangshan |
1,950 |
278 |
0 |
||
|
Huaibei, Anhui |
2,030 |
290 |
0 |
||
|
Average |
1,906 |
272 |
↑20 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 7.01