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Home > Coking coal Coke News > News Detail
Coking coal Coke News

SunSirs: Strong Upward Trend in China Coking Coal and Coke Futures

November 30 2023 10:03:40SunSirs(Selena)

Accidents in the production area have been continuous, and under high safety pressure, some coal mines in Lvliang and Changzhi areas of Shanxi Province have still experienced safety accidents recently. The total production capacity of the two areas is about 18 million tons, which further exacerbates the tense situation of local coking coal supply. Downstream enterprises have maintained a low inventory of raw coal due to poor profitability and average production enthusiasm. However, they are still in a replenishment cycle, and the increase in coke prices has supported coking coal prices. Currently, although mainstream steel mills have not responded to the second round of coke price increases, the market has strong expectations for their implementation.

Some steel mills in Xingtai, Tianjin, and Shijiazhuang regions have accepted a second round of coke price increase of 100-110 RMB/ton. The price of raw coal has significantly increased and procurement is difficult. There are varying degrees of production restrictions imposed by coke enterprises in the production area, resulting in a decrease in coke production in the region and an impact on production levels. The shipment situation of coke enterprises is relatively good. The current operating level of downstream steel plants is still acceptable, and the inventory of coke in the plant continues to decline. In addition, the temperature will decrease in the later period, and the demand for winter storage will continue to be released. Steel plants have a high enthusiasm for coke procurement, and speculative demand in the coke market has increased. At the same time, coal prices have risen significantly recently, which has provided strong support for coke costs.

 

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