During the week ending August 31, metallurgical coke prices have declined sharply in the Chinese market against the backdrop of weak iron ore and finished steel prices in China. As of August 31, coke futures contract (1301) offers closed at RMB 1,396/mt ($220/mt) at Dalian Commodity Exchange. Local coke prices in China can be viewed in the SteelOrbis price reports section.
As domestic finished steel and iron ore prices continue to drop down, coke prices in China have also decreased, declining at a faster pace than in the previous week. Coke suppliers have not been successful in their efforts to keep their offer prices stable. Market insiders indicate that coke production volumes in China are still too high to allow a recovery of the market. It is expected that coke prices in the Chinese market will continue their downtrend in the coming period.