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, but 65% CSR shipments can now be found for less than $350 per tonne fob, compared with an offer level of $330 per tonne fob heard last week.The reversal of the bullish mood stems from China's futures and spot coke markets.The most-traded May coke contract on the...