During the week ending July 10, import premium hard coking coal quotations in China have moved down amid decreasing transaction activities in the international market.
Quotations of premium hard coking coal from Australia are at $127.5/mt CFR China, decreasing by $2.5/mt compared to last week. Hard coking coal prices are at $105/mt CFR, moving down by $1/mt week on week.
Coke prices in Tangshan are at RMB 1,900/mt ($272/mt) ex-warehouse, moving down by RMB 50/mt ($7.1/mt) compared to the previous week, according to SteelOrbis’ data.
During the given week, coking plants’ output of coke decreased slightly, while prices also declined amid slackening purchasing activities from downstream users. The inventory of coke on coking plants’ side has increased, exerting a negative impact on coke prices. Capacity utilization of steelmakers’ blast furnaces has still been at high levels, while coke inventory increased, thereby they slowed down the purchasing activities of coke. Cautious attitude prevailed among market players in coke market.
As of Friday, July 3, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 1,875/mt ($278/mt), increasing by RMB 3.5/mt ($0.5/mt) or 0.19 percent compared to July 3.
$1 = RMB 6.994
