During the week ending October 18, local coke prices in China have moved up further compared to the previous week, but further rises are doubtful after the recent drop in steel prices and the worsening of sentiments.
First-grade coke prices in Tangshan are at RMB 1,980/mt ($278/mt) ex-warehouse, moving up by RMB 55/mt compared to October 11, according to SteelOrbis’ data.
Prices of coke in local markets in China
Product Name |
Specification |
Place of Origin |
Price（RMB/mt） |
Price ($/mt) |
Weekly Change（RMB/mt） |
Weekly Change（$/mt） |
Coke |
First grade （A<13.0,S<0.75,CSR>65.0） |
Hancheng, Shaanxi |
1,940 |
272.2 |
55.0 |
5.7 |
Zibo, Shandong |
2,130 |
298.9 |
55.0 |
5.5 |
||
Pingdingshan, Henan |
1,980 |
277.8 |
55.0 |
5.7 |
||
Tangshan |
1,980 |
277.8 |
55.0 |
5.7 |
||
Huaibei, Anhui |
2,030 |
284.8 |
55.0 |
5.6 |
||
Average |
2,012 |
282.3 |
55.0 |
5.6 |
including 13 percent VAT
During the given period, coke prices in the Chinese domestic market moved up first and then moved sideways later. The sixth round of rises in coke prices has been implemented. There was a rumor in the market of further price hikes by some coking plants in Shanxi Province, though steelmakers have declined to respond so far. Currently, coking plants’ profitability has improved to a certain degree, resulting in increasing production capacity utilization rates. However, finished steel prices have started to move down following the rapid increases in previous weeks, which will exert a negative impact on the coke market. It is expected that coke prices in the Chinese domestic market will fluctuate within a limited range with a negative bias in the coming week.
On October 18, average offer prices of coke CSR65 in the export market have been at $284/mt FOB, moving up by $7/mt compared to October 11.
As of October 18, coking coal futures at Dalian Commodity Exchange (DCE) are standing at RMB 1,351/mt ($189.5/mt), decreasing by RMB 133/mt ($18.7/mt) or 9.0 percent since October 11, while down 3.88 percent compared to the previous trading day, October 17. Meanwhile, coke futures prices at Dalian Commodity Exchange (DCE) are standing at RMB 1,988/mt ($279/mt), decreasing by RMB 151/mt ($21/mt) or 7.1 percent since October 11, while down 3.66 percent compared to the previous trading day, October 17.
$1 = RMB 7.1274