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China PCI market remains weak, prices stable

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Publish time: 15th May, 2015      Source: www.cnchemicals.com
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China’s PCI coal market continued to face weak demand from well-stocked steel mills, with overall sentiment remained bearish for the near-term market.Sources confirmed that Lu’an Group, a major producer in Shanxi province, kept prices unchanged for road deliveries this month, with the ex-washplant price of its PCI coal with 0.5% sulphur, 12% ash and volatility still at 510 yuan/t after discounts.One steel mill source from Shijiangzhuang, Hebei province said the delivered price of Kcal 7,400 PCI coal with sulphur below 0.7% remained at 590 yuan/t with VAT.One Tangshan-based steel mill source said it planned to cut purchase price for non-bituminous PCI coal by 25 yuan/t from around 20 days ago to 625 yuan/t. The non-bituminous PCI market was roughly stable, but bituminous PCI coal prices may keep falling in the short run, the source noted.Another Tangshan-based steel mill source said the delivered price of Shanxi PCI -- 0.45% sulphur; 7,500 Kcal -- was 710 yuan/t with VAT this week, unchanged from a week ago; but that of Shaanxi PCI -- 0.3% sulphur and 7,300 Kcal -- dropped 10 yuan/t on week to 530 yuan/t.The CCI Met Shanxi PCI index assessed the ex-washplant price of Shanxi PCI coal at 475 yuan/t on May 13, down 5 yuan/t from a day ago and down 15 yuan/t on week.