During the week ending December 8, local and export coke prices in China have moved sideways as buyers have been reluctant to accept further rises.
First-grade coke prices in Tangshan are at RMB 2,530/mt ($356/mt) ex-warehouse, moving sideways compared to December 1, according to SteelOrbis’ data.
Prices of coke in local markets in China
|
Product Name |
Specification |
Place of Origin |
Price（RMB/mt） |
Price ($/mt) |
Weekly Change（RMB/mt） |
Weekly Change（$/mt） |
|
Coke |
First grade （A<13.0,S<0.75,CSR>65.0） |
Hancheng, Shaanxi |
2,490 |
350.1 |
0.0 |
-0.1 |
|
Zibo, Shandong |
2,680 |
376.8 |
0.0 |
-0.1 |
||
|
Pingdingshan, Henan |
2,530 |
355.7 |
0.0 |
-0.1 |
||
|
Tangshan |
2,530 |
355.7 |
0.0 |
-0.1 |
||
|
Huaibei, Anhui |
2,580 |
362.8 |
0.0 |
-0.1 |
||
|
Average |
2,562 |
360.2 |
0.0 |
-0.1 |
including 13 percent VAT
During the given week, though coking plants have attempted to raise coke prices for the third consecutive time, mainstream steelmakers have not accepted the higher prices. Coking plants’ capacity utilization rates have indicated slight declines, bolstering coke prices to a certain degree. At the same time, local coking coal prices are at relatively high levels, providing support for coke prices from the cost side. It is expected that coke prices in the Chinese domestic market may rise further, though market players think prices may indicate a downward correction within a few weeks, following this round of price increases.
On December 8, offer prices of coke CSR65 in the export market have been at around $361/mt FOB, stable compared to December 1.
The tradable levels for premium hard coking coal in China have remained $330-340/mt CFR, stable over the past week. Canadian hard coking coal prices have been at $330/mt CFR. The Australian FOB price has settled at $335/mt FOB this week, with one deal for mid-volatile material done on Monday at $334/mt FOB for India for December laycan.
As of Friday, December 8, coking coal futures at Dalian Commodity Exchange (DCE) have settled at RMB 1,990.5/mt ($280.4/mt), down by RMB 96.5/mt ($13.6/mt) or 4.6 percent week on week, and down by 0.6 percent compared to the previous trading day (December 7). Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,666/mt ($382/mt), rising by RMB 8/mt ($1.1/mt) or 0.3 percent compared to December 1, and up 0.81 percent compared to the previous trading day.
$1 = RMB 7.1123
Note: coking coal futures main contract shifted into jm2405