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Home > Coke News > News Detail
Coke News
SunSirs: The Coke Market is Weak (April 1-7)
April 08 2024 10:58:51SunSirs(Selena)

According to the commodity market analysis system of SunSirs, from April 1st to April 7th, 2024, the coke market in Shanxi region remained stable. As of April 7th, the ex factory price of quasi first grade metallurgical coke was 1,753.33 RMB/ton, which is currently stable.

Today, the domestic coking coal market is operating weakly. In terms of supply, regional supply is slowly recovering, and the overall increase in coking coal supply is limited. As the sentiment in the coke market continues to weaken, most enterprises are still in a wait-and-see state. The purchasing sentiment in the coking coal market is sluggish, and coal companies have signed fewer new orders. The phenomenon of some coal mines accumulating inventory due to high shipping pressure is gradually becoming apparent. Moreover, online bidding for coking coal has often been unsuccessful or declining, and currently coal prices continue to decline..

The coke market is operating weakly, and after the implementation of the seventh round of price reduction, coke companies have a weak mentality, with a cumulative price reduction of 700-770 RMB/ton. In terms of supply, the production restriction efforts of coke enterprises are still relatively high, and the operating rate of coking enterprises is relatively low, currently around 65%. Most coke enterprises still suffer losses, and the production restriction efforts are still significant. Affected by the weak market atmosphere, coke enterprises have low expectations of increasing production in the short term and will continue to maintain a low operating rate in the near future, resulting in a tight supply of coke. In terms of demand, although this week coincides with a holiday, some steel mills have plans to replenish inventory, but most of them are temporary demands. The operating rate of steel mills has not significantly rebounded, and production restrictions continue to be maintained. The demand for coke is low, and replenishment is needed as needed. Overall, the coke market is still in a weak trend, with coke companies and steel mills all losing money. Currently, coke steel has a strong gaming mentality. It is expected that the coke market will operate steadily, moderately, and weakly in the short term. In the future, the focus will be on the inventory situation of coke in various links and the profit of coke steel.

The coke market in Shandong Port is currently operating steadily, with a quasi first level outbound price of around 1,830-1,880 RMB/ton and a first level outbound price of 1,930-1,980 RMB/ton. The spot market in the port is currently operating steadily, and traders have average intentions to gather at the port. Market transactions are sluggish, and downstream steel mills are in urgent need of restocking, resulting in a slight decrease in port inventory.

 

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