During the week ending November 24, local coke prices in China have moved up. The first round of increases was announced on Monday and has been accepted by steel mills, while by the end of the week coke producers have proposed another round of hikes, which has not been accepted yet.
First-grade coke prices in Tangshan are at RMB 2,420/mt ($340/mt) ex-warehouse, moving sideways compared to November 17, according to SteelOrbis’ data.
Prices of coke in local markets in China
|
Product Name |
Specification |
Place of Origin |
Price（RMB/mt） |
Price ($/mt) |
Weekly Change（RMB/mt） |
Weekly Change（$/mt） |
|
Coke |
First grade （A<13.0,S<0.75,CSR>65.0） |
Hancheng, Shaanxi |
2,380 |
334.5 |
110.0 |
18.0 |
|
Zibo, Shandong |
2,570 |
361.2 |
110.0 |
18.3 |
||
|
Pingdingshan, Henan |
2,420 |
340.1 |
110.0 |
18.1 |
||
|
Tangshan |
2,420 |
340.1 |
110.0 |
18.1 |
||
|
Huaibei, Anhui |
2,470 |
347.2 |
110.0 |
18.1 |
||
|
Average |
2,452 |
344.6 |
110.0 |
18.1 |
including 13 percent VAT
During the given week, coke prices in the Chinese domestic market have moved up, while another round of price increases has been announced, though steelmakers have declined to accept them at present, while acceptance of the further increase of RMB 110/mt may be seen next week. Coking plants’ capacity utilization rates have decreased due to rising raw material prices. Supply of local coking coal has decreased due to upgrading and inspections following the recent frequent accidents, which bolstered prices. However, coking plants have been unwilling to purchase coking coal at high prices, though the supply shortage may continue in the near future. It is thought that coke prices in the Chinese domestic market will likely edge up further in the coming week.
On November 24, offer prices of coke CSR65 in the export market have risen to $348/mt FOB, up by $3/mt compared to November 20.
As of Friday, November 24, coking coal futures at Dalian Commodity Exchange (DCE) have settled at RMB 2,092.5/mt ($294/mt), up by RMB 48/mt ($6.4/mt) or 2.35 percent week on week, rising by 3.87 percent compared to the previous trading day, November 23. Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,717.5/mt ($382/mt), increasing by RMB 68.5/mt ($9.6/mt) or 2.6 percent compared to November 17 and up 3.29 percent compared to the previous trading day.
$1 = RMB 7.1151