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China PCI prices may further decrease in Jun

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Publish time: 27th May, 2015      Source: www.cnchemicals.com
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China’s PCI prices may further decline in June, as large producers may continue to adjust down prices to boost sales and ease stocks pressure amid weak downstream demand.One Shanxi-based big miner said the rail freight of PCI was higher than road freight, thus many buyers chose to transport coals by roads, leading in a slump of rail coal transport volumes; it had no price edge compared with neighboring mines and may reduce PCI prices in June.One Tangshan-based steel mill said it was negotiating with one Ningxia’s producer on price cut by 30-40 yuan/t from the previous 719 yuan/t, delivered-basis.One end user from Handan, Hebei said the delivered price of 7,400 Kcal PCI with 0.4% sulphur and 11% ash was 540 yuan/t at present; while large miners’ ex-washplant price of this product was 530 yuan/t, VAT-included. The user predicted further drop of large miners’ prices in June.One trader from Rizhao, Shandong said the ex-works price of PCI with 0.8% sulphur, 11% ash and volatility was 600 yuan/t, while that of 12% ash and volatility was 580 yuan/t. The road freight from Changzhi, Shanxi to Rizhao was 130 yuan/t presently.Coke prices in major production bases were roughly stable presently, with the delivered prices of Tangshan Grade I and Grade II stood at 900 yuan/t and 850 yuan/t, respectively, market sources said. Some coking enterprises of major coke production regions asked steel mills for price rise, but received no responses.The downstream steel market rebounded a bit, with the billet price increasing 10 yuan/t on day to 1,980 yuan/t in Tangshan on May 26.The imported PCI prices kept falling recently. The CIF and ex-works prices of PCI with 12-13% volatility and 8.5% sulphur were $76 and 620 yuan/t, respectively.The CCI Met Shanxi PCI index assessed the ex-washplant price of Shanxi PCI coal at 470 yuan/t on May 26, unchanged on day and on week.