SunSirs: On May 9, the First Round of Coke Price Reduction Was Introduced
May 10 2022 09:05:18 SunSirs (John)
Price trend
According to the price monitoring of SunSirs, the price of primary metallurgical coke in Shanxi on May 9 was 3,616 RMB/ton, down 4.69% from the previous day.
Analysis review
The coking coal market was still running weakly, and the production in the mining area was relatively normal, but the enthusiasm for downstream purchases declined to a certain extent. Recently, most of the purchases have been maintained for rigid demand, and the overall market sentiment has been sluggish. Coking coal has weakened, and the support for coke price has declined.
The first round of price cuts for coke landed, and the current round dropped by 200 RMB/ton. As of the 9th, the coke enterprises in the main producing areas were basically operating normally, and the operating rate was at a high level as a whole. The company was actively shipping, the coke inventory in the factory was low, and the sales situation was good. The profit of downstream steel mills was low, the coke inventory in the plant remained in a stable range, the coke demand was stable, the mood of replenishment was weak, and the purchase was mainly on demand. With the decline in market confidence, the overall market sentiment was low, and the enthusiasm of steel mills to purchase slowed down.
Market outlook
It is expected that the overall coke market will be stable and weak, and the follow-up will focus on transportation, the operating rate of steel plants and the coke inventory in various links.
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