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Home > Coke News > News Detail
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SunSirs: The Fourth Round of Increase in China Coke Market has Landed (May 1-10)
May 11 2024 10:50:08SunSirs(Selena)

According to the commodity market analysis system of SunSirs, from May 1 to May 10, 2024, the fourth round of increase in the coke market in Shanxi Province was implemented. As of May 10, the ex factory price of quasi first grade metallurgical coke was 2,063.33 RMB/ton, up 4.83%.

Upstream market: The overall domestic coking coal market has remained stable this week, and the supply side has recently started construction in mining areas. Sales are relatively stable, and inventory is generally low, resulting in a stable market atmosphere.

The fourth round of increase in the coke market this week has landed during the holiday period, with a cumulative increase of 400-440 RMB/ton. In terms of supply, with the implementation of four rounds of price hikes by coking enterprises, their profits have been somewhat restored. Recently, the production of coking enterprises has significantly rebounded, and the supply of coke has improved compared to the previous period. In terms of demand, downstream steel companies have been able to start construction recently, but the prices of finished products have been weak recently. Steel mills have shown a decline in their purchasing sentiment towards coke and are replenishing inventory as needed. In the future, coking enterprises are currently starting the fifth round of price hikes, but steel mills have strong resistance. Under the mentality of coke steel game, it is expected that the difficulty of implementing the fifth round of price hikes will increase, and the coke market will remain stable in the short term.

The coke market in Shandong Port is operating weakly, and the atmosphere in the port market is still good. The inventory in the two ports is temporarily stable, and the trading atmosphere in the market is weak, with a strong wait-and-see atmosphere. 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. This week, the futures market fell, and there was a strong wait-and-see atmosphere in the port market. Freight prices followed the downward trend of the market atmosphere, and market trading was slightly lackluster.

 

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