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SunSirs: The First Round of Price Increase in China Coke Market has Landed, and the Second Round of Price Increase has Begun (April 12-19)
April 22 2024 11:00:20SunSirs(Selena)

According to the commodity market analysis system of SunSirs, from April 12 to April 19, 2024, the first round of increase in the coke market in Shanxi Province was implemented. As of April 19, the ex factory price of quasi first grade metallurgical coke was 1,770 RMB/ton, up 6.09%.

Upstream market: The overall coking coal market has been on the rise this week, with stable mining operations and active shipments. Recently, the supply of coking coal has been relatively stable. The first round of increase in coke prices quickly hit the ground this week, with improved profits for coke companies and a recovery in their intention to purchase raw material coke coal. On site traders are actively inquiring about goods, and this week's online bidding performance was good. Most coal prices have rebounded, and market transactions have been good, with only a small number of unsold bids. The market atmosphere has improved.

This week, the first round of increase in the coke market began and quickly landed, with a cumulative increase of 100-110 RMB/ton. After the first round of increase landed, Inner Mongolia took the lead in launching a second round of increase, and as of the time of publication, it has not yet landed. In terms of supply, the raw material coking coal market continued to rise this week, with strong cost support from coking enterprises. After the first round of price hikes were implemented, the profits of coking enterprises have recovered to a certain extent. However, due to the impact of rising raw material coking coal prices, coking enterprises still have losses, and they are still limiting production. The operating rate has slightly increased compared to the previous period, and the overall operation is still at a low level, resulting in tight supply of coke. The port market has been actively inquiring about goods this week, and the sales of coke have been good. In terms of demand, the terminal consumer market has performed well, with steel plant operating rates steadily rebounding, and the demand for raw material coke replenishment has been released. Recently, active replenishment has been carried out, and as the May Day holiday approaches, there is still a demand for pre holiday stocking. In the future, the coke market is currently experiencing tight supply and increased demand, and traders are actively entering the market. Some coke companies have a reluctance to sell, and it is expected that the coke market will operate steadily, moderately, and strongly in the short term.

The coke market in Shandong Port is operating strongly, with a quasi first level outbound price of around 1,950-2,000 RMB/ton and a first level outbound price of 2,050-2,100 RMB/ton. The port market atmosphere has improved, and the second round of spot market growth has rapidly begun, driving the market atmosphere to improve. Inquiries in the port market are positive, and some traders have a reluctance to sell.

Freight is a barometer that reflects the mentality of the port market. When the port procurement mentality is positive, freight increases. Port mentality is wait-and-see, and freight prices decline when purchasing intentions are low. Last week, with the first round of increase in the spot market landing, the inquiry intention in the port market significantly rebounded, and freight prices have slightly increased following the port mentality. The market atmosphere has improved compared to the previous period.


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