During the week ending November 3, local coke prices in China have moved down compared to the previous week despite rises seen in futures and spot steel prices in China this week.
First-grade coke prices in Tangshan are at RMB 2,310/mt ($322/mt) ex-warehouse, moving down by RMB 110/mt ($15/mt) compared to October 27, according to SteelOrbis’ data.
Prices of coke in local markets in China
|
Product Name |
Specification |
Place of Origin |
Price（RMB/mt） |
Price ($/mt) |
Weekly Change（RMB/mt） |
Weekly Change（$/mt） |
|
Coke |
First grade （A<13.0,S<0.75,CSR>65.0） |
Hancheng, Shaanxi |
2,270 |
316.2 |
-110.0 |
-15.4 |
|
Zibo, Shandong |
2,460 |
342.6 |
-110.0 |
-15.4 |
||
|
Pingdingshan, Henan |
2,310 |
321.7 |
-110.0 |
-15.4 |
||
|
Tangshan |
2,310 |
321.7 |
-110.0 |
-15.4 |
||
|
Huaibei, Anhui |
2,360 |
328.7 |
-110.0 |
-15.4 |
||
|
Average |
2,342 |
326.2 |
-110.0 |
-15.4 |
including 13 percent VAT
During the given week, coke prices in the Chinese domestic market have moved on a downtrend, while downstream steelmakers have been active in concluding purchases of coke. Inventory of coke has been at relatively low levels, bolstering prices to a certain degree. Currently, steel prices have risen, while some steelmakers have been incurring losses, which may cause them to exert further downward pressure on coke prices. Local and import coking coal prices have also indicated declines, weakening the support for coke prices from the cost side.
On November 3, offer prices of coke CSR65 in the export market have declined to $335-338/mt FOB, down from $340-345/mt FOB on October 27.
The tradable level in the import PHCC market in China has been at $280/mt CFR, with no fresh deals done. However, Russian PCI has been sold at $158/mt CFR, down by $5/mt from the previous week.
As of Friday, November 3, coking coal futures at Dalian Commodity Exchange (DCE) have settled at RMB 1,874/mt ($261/mt), up by RMB 53/mt ($7.4/mt) or 2.9 percent week on week and up by 4.31 percent compared to the previous trading day (November 2). Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,496/mt ($348/mt), increasing by RMB 33.5/mt ($4.7/mt) or 1.4 percent compared to October 27, and rising by 3.55 percent compared to the previous trading day.
$1 = RMB 7.1796