Local coke prices in China continue downtrend, export offers follow

Friday, 12 January 2024 15:25:20 (GMT+3)   |   Shanghai
       

During the week ending January 12, local coke prices in China have continued their downtrend compared to the previous week due to slow demand and lower coking coal prices, while coke export prices have followed the same trend.

First-grade coke prices in Tangshan are at RMB 2,420/mt ($341/mt) ex-warehouse, moving down by RMB 110/mt ($15.5/mt) compared to January 5, according to SteelOrbis’ data.

Prices of coke in local markets in China    

Product Name    

Specification    

Place of Origin    

PriceRMB/mt    

Price ($/mt)    

Weekly ChangeRMB/mt    

Weekly Change$/mt    

Coke    

First grade (A<13.0,S<0.75,CSR>65.0)    

Hancheng, Shaanxi    

2,380  

335.0   

-110.0   

-15.6   

Zibo, Shandong    

2,570  

361.7   

-110.0   

-15.6   

Pingdingshan, Henan    

2,420  

340.6   

-110.0   

-15.6   

Tangshan    

2,420  

340.6   

-110.0   

-15.6   

Huaibei, Anhui    

2,470  

347.6   

-110.0   

-15.6   

Average    

2,452  

345.1   

-110.0   

-15.6   

including 13 percent VAT

During the given week, coke prices in the Chinese domestic market moved down further despite the declining capacity utilization rates of coking plants, while bearish sentiments have prevailed among market players. Currently, the inventory of coke has risen compared to the previous week, exerting a negative impact on prices. Moreover, steel prices have also indicated decreases, weakening the demand for coke. It is expected that coke prices will edge down further in the coming week.

On January 12, offer prices of coke CSR65 in the export market have been at $350/mt FOB, declining by $5/mt compared to January 5.

As of Friday, January 12, coking coal futures at Dalian Commodity Exchange (DCE) have settled at RMB 1,788.5/mt ($251.7/mt), down by RMB 57.5/mt ($8.1/mt) or 3.1 percent week on week, while up 0.42 percent compared to the previous trading day (January 11). Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) are at RMB 2,386/mt ($336/mt), decreasing by RMB 64.5/mt ($9.1/mt) or 2.63 percent compared to January 5, and down 0.19 percent compared to the previous trading day.

$1 = RMB 7.105


Tags: China Far East 

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