CHINA COKE WRAP: Prices rebound on switch in sentiment, stronger yuan [UPDATED]

China’s coke export prices have bottomed out and begun to pick up again in the past fortnight, amid a turnaround in market sentiment and the continued appreciation in the value of the yuan.

Metal Bulletin’s price assessment for Chinese coke exports with 65% coke strength after reaction (CSR), 12.5% ash, and in physical sizes of 30-90mm, was $350-355 per tonne fob China for the week ended Tuesday February 6.
This was up by $5-10 per tonne from $340-350 per tonne fob recorded for the preceding two weeks.
A March-delivery cargo of 62% CSR materials was heard traded to Southeast Asia recently at $355 per tonne fob China. As for shipments of 62-65% CSR products, these are no longer available for anything less than $350 per tonne fob, even though they were heard offered as low as $330 per tonne fob last week.
The reversal of the bullish mood stems from China’s futures and spot coke markets.

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July Zhang

February 07, 2018

14:50 GMT