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SunSirs: China Coke Market Price was temporarily Stable last Week (July 27-31)

August 04 2020 10:30:53     SunSirs (Selena)

From July 27 to July 31, 2020, the price of coke market in Shanxi region kept stable at the beginning of the week, and went up last weekend. The price was 1,660 RMB/ ton at the beginning of the week and 1,660 RMB/ ton at the weekend, which was flat compared with the previous week.

On July 31, the coke commodity index was 87.14, flat with the previous day, down 35.47% from 135.04 (September 13, 2018), and 151.49% higher than the lowest point of 34.65 on March 3, 2016. (Note: period refers to 2011-09-01 to now).

Last week, coke market was temporarily stable, coke steel enterprises had strong game psychology, coke trend was not very clear, from 00:00 on July 28, the ex-factory price of metallurgical coke in Weifang, Binzhou, Dezhou, Jining, Zaozhuang, Heze, Rizhao, Tai'an and other coke production enterprises in Shandong Province has increased by 50 RMB/ ton on the basis of the original price. The increase was not accepted by the downstream steel mills. On July 30, the high sulfur coke (customized coke) was reduced by 20-50 RMB/ ton, the high sulfur coke (s1.5) was reduced by 20 RMB/ ton, and the high sulfur coke (s1.8) was reduced by 50 RMB/ ton, which was implemented from 0:00 on July 31. Up to now, the price of coke in Shandong is 1,800 RMB/ ton.

In terms of demand, the blast furnace start-up rate of downstream steel mills is still high, and the demand for coke is good. However, the coke inventory of steel mills has increased recently, and most of the steel mills' procurement has slowed down. At present, the existing stocks have been digested.

Last week, the port price remained stable. As of the end of the week, the port market was slightly worse, and the quotation was temporarily stable. In terms of inventory, there were 240,000 tons in Tianjin port last week, about 10,000 tons higher than the previous week. The inventory of Rizhao port last week was 945,000 tons, up 45,000 tons compared with the previous week.

In terms of aftermarket, SunSirs believes that in the near future, coking enterprises are more active in shipping, the inventory of downstream steel mills is on the high side in the middle, and most steel mills mainly purchase on demand. At present, coke and steel enterprises are playing games; some manufacturers are mainly waiting and see. The fourth round of price reduction has not been implemented. It is expected that the future market of China coke is mainly stable, and there is still the possibility of further downward adjustment.


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