Coke Prices Are Hiked by 3 Rounds in 10 Days

SHANGHAI, Jan 13 (SMM) - The coke prices were raised by 3 rounds in 10 days, with a combined increase of 500 yuan/mt. The spot and futures prices of coking coal rose as well. The previously falling thermal coal prices have once again reversed the trend and rose because of the uncertainties over Indonesia's coal export policy.

Industry sources as well as researchers said that from a supply and demand perspective, coking coal and coke prices still have room to fall. It is heard that a large number of coal mining enterprises will close for only 3 days during the Spring Festival, and will ramp up the production to assure the supply during rest of the time. Yang Jie, deputy director of the research department of the Easy Coal Research Institute, believes that the current domestic coal supply is still expected to rise, and Indonesia's export policy will have limited impact on the China market. The thermal coal prices are likely to return to the downward trajectory.