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SunSirs: China Coke Market Price is temporarily Stable and the Market is Improving (November 11-18)
November 22 2022 10:12:20SunSirs(Selena)

From November 11, 2022 to November 18, 2022, the coke market price was temporarily stable. As of November 11, the price of quasi primary metallurgical coke in Shanxi was 2,300 RMB/ ton, which was temporarily stable last week.

In terms of supply: the coking coal market has been operating steadily and well last week, and the downstream coking enterprises have slightly recovered their purchasing intentions in the near future. With the market warming, the ordering situation in the mining area has improved to a certain extent, the market shipment situation is good, and the on-site inventory is normal. The price of some kinds of coal has risen slightly, and the mentality of the mining area is good.

The coke market was temporarily stable after falling last week. The coke had fallen for three consecutive rounds, with a cumulative drop of 300-330 RMB/ ton. In terms of supply, coking enterprises started well last week. The higher futures volume led to a better market mentality. Some traders entered the market to purchase, and coke enterprises' inventories generally declined. At present, the market inventory is generally low, and coke enterprises' mentality is stronger. Some coke enterprises started the first round of increase of 100-110 RMB/ ton last week, but the downstream steel mills, affected by profits, temporarily refused to accept it. In terms of profits, the steel mills still performed poorly last week. However, as winter approached, the steel mills had certain plans for winter storage, and their purchasing enthusiasm picked up slightly last week. However, considering profits, they had strong resistance to the increase of raw materials. In general, coke steel has a heavy game mentality, coke enterprises have a good mentality, and market sentiment has warmed up to a certain extent. It is expected that coke prices will temporarily stabilize in the short term.

The price of coke at ports in Shandong Province rose slightly last week, and the quasi primary ex warehouse price at ports rose from 2,530-2,550 RMB/ ton on November 11 to 2,550-2,600 RMB/ ton on November 18, a slight increase of 20-50 RMB/ ton. The port inventory was flat as a whole, with Rizhao up 40,000 tons and Qingdao down 40,000 tons. The price of the port market rose slightly, and the overall trading atmosphere was more active than in the previous period. The inventory of the two ports rose slightly, the market mentality improved, and the freight rate rebounded. The port's intention to gather at the port improved.

Last week, the port freight rose significantly. The port's mentality has improved recently. The overall inventory has not changed much. The enthusiasm of traders to gather at the port has slightly recovered, driving the freight price up.

 

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