Heibei Shougang Baoye Tongbao Coking: coke price rises with increase expectation before Spring Festi

BEIJING(Asian Metal) 14 Jan 11- Hebei Shougang Baoye Tongbao Coking coke price increases and that of metallurgical cokeII is RMB1,900/t Ex works. 

An official in this company revealed that the coke price increased and that of metallurgical cokeII was RMB1,900/t, a higher price due to the high quality closing to pseudo-first-order. The transactions are good and there is basic no inventory in company. It is predicted that the price would increase further around 15th, at least by RMB50/t. 

This official stated that the price increase was mainly caused by high cost. The increase of coking coal price is the major impetus of coke pirce increase, in addition with the Austrial flood, therefore, most traders anticipated that the international coking coal price would increase significantly, intensifying the upward trend of coke price before Spring Festival. The coke enterprises anticipated the potential of higher movements on price before Spring Festival. 

According to the analysts of Asian Metal, the coking coal price increases as anticipation and the demand was flourish, coupled with the high demand expectation in future. Recently, the prices of steel and coking coal increase further, especially the alternative rising on coking coal price in various regions, in addition with the rainstorm in Queensland in Austrilia. The international coking coal price rises significantly and the price differcences between domestic and international market are great. It is predicted that the domestic coking coal price would keep high. The series of factors will be the base points of price regulation in future market. 

Tangshan Shougang Baoye Iron and Steel is the subsidiary of Shougang Group and was founded in 18th October, taking an area of over 8,000 acres with the preliminary designed scale of six million tons annual output. The first-stage construction was launched at the end of September in 2009 and the second-stage was planned to be launched at the end of March in 2010. In the spirit of “high starting point, high standard, high requestment” and “first-rate technique, high-quality production, high benefit and good environment”, this company shows traditional strengths, first-class level and broad feelings of parent company. The emphasis on people oriented and construction of the harmonious company become the basic of structural adjustment and reform and development.