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| Coke prices remain stable in China Shanxi Province - 23 Feb, 2012 | ||
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Coke prices in North China's Shanxi province temporarily remain stable amid weak demand from steel mills despite a modest improvement in steel market following the news that China's central bank will cut banks' reserve requirement ratio by 0.5 percentage point effective February 24th 2012 in a move to help boost liquidity and support the economy. Currently, I grade metallurgical coke is mainly traded at CNY 1,950 per tonne and I grade metallurgical coke stays at CNY 1,900 per tonne. In Changzhi, the ex-works price of I and II grade metallurgical coke stabilizes at separately CNY 1,780 per tonne and CNY 1,740 per tonne. In Jinzhong, the mainstream transaction price of II grade metallurgical coke keeps flat at CNY 1,760 per tonne. In Linfen and Hejin, the ex works price of II grade metallurgical coke separately stands at CNY 1,770 per tonne and CNY 1,760 per tonne. Market participants expect the coke market to hover at low level in the short run given coking plants hold on to production cuts. (Source: www.steelhome.cn/en) China steel information centre and industry database | ||
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