Local coke prices in China unmoved as sellers attempts to push up fail

Friday, 21 June 2024 15:35:45 (GMT+3)   |   Shanghai

During the week ending June 21, local coke prices in China have remained stable compared to the previous week as sellers’ attempt to push prices up have failed and moods have remained bearish.

First-grade coke prices in Tangshan are at RMB 2,035/mt ($286/mt) ex-warehouse, moving sideways compared to June 14, 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  

1,995

280.2

0.0

-0.2

Zibo, Shandong  

2,185

306.9

0.0

-0.2

Pingdingshan, Henan  

1,925

270.4

0.0

-0.2

Tangshan  

2,035

285.8

0.0

-0.2

Huaibei, Anhui  

1,975

277.4

0.0

-0.2

Average  

2,023

284.1

0.0

-0.2

including 13 percent VAT  

During the given week, coke prices in the Chinese domestic market have remained unchanged. On June 20, mainstream coking plants attempted to raise coke prices by RMB 50-55/mt ($7-$7.7/mt), while steelmakers haven’t responded to that, signaling the intensifying game between coking plants and steelmakers. Coking plants’ capacity utilization rates haven’t seen big changes, which still stood at relatively high levels, while the inventory of coke at buyers’ side has been at low levels, bolstering its prices to a certain degree.

Local coking coal prices fluctuated within a limited range, weakening the support to coke prices. Steelmakers have been willing to build up stock for coke as molten iron outputs have been at relatively high levels. However, the plum rain season and high temperature may further slacken the demand for steel and exert a negative impact on coke prices. It is thought that coke prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.

On June 21, offer prices of coke CSR65 in the export market have been at $298/mt FOB, remaining unchanged compared to June 14.  

As of June 21, coking coal futures at Dalian Commodity Exchange (DCE) are standing at RMB 1,560/mt ($219/mt), decreasing by RMB 98/mt ($13.8/mt) or 5.91 percent since June 14, while down 1.89 percent compared to the previous trading day, June 20. Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) are standing at RMB 2,215/mt ($311/mt), decreasing by RMB 116/mt ($16.3/mt) or 4.98 percent since June 14, while down 1.99 percent compared to the previous trading day, June 20.

$1 = RMB 7.1196 


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