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SunSirs: The First Round of Price Reduction in China Coke Market has been Implemented (May 17-24)

May 27 2024 11:03:01SunSirs(Selena)

According to the commodity market analysis system of SunSirs, from May 17th to May 24th, 2024, the first round of price increase and decrease in the coke market in Shanxi region was implemented. As of May 24th, the ex factory price of quasi first grade metallurgical coke was 1,960 RMB/ton, a decrease of 5.01%.

Upstream market: This week, the coking coal market has been operating steadily with a weak trend. In terms of supply, there have been many safety inspections in the mining area recently, and the production has been low. The supply is stable with a weak trend, and downstream procurement intentions are currently weak. We will replenish inventory as needed. The bidding situation this week has seen mixed ups and downs, with some cases of unsold bids and narrow price fluctuations, resulting in an overall stable trend.

This week, the first round of price reduction in the coke market has been implemented, with a cumulative decrease of 100-110 RMB/ton. In terms of supply, the recent decline in coking coal prices has led to a decrease in the cost of coke enterprises entering the furnace. Although the implementation of the reduction has narrowed profits, the operating rate has remained stable this week with a slight increase. The overall supply of coke has remained stable. With the strengthening of the futures market and a better market atmosphere, the mentality of coke enterprises has improved. In terms of demand, the steel market has been steadily increasing recently, with steel mill profits recovering and operating rates steadily increasing. The demand for coke has remained stable, and inventory needs have been replenished as needed. In the near future, the market performance has been relatively stable, and there is limited room for coke to continue to decline. It is expected that the trend will be stable in the short term.

The coke market in Shandong Port saw a slight increase in quotations, while the futures market strengthened, leading to an improvement in the port market sentiment. Downstream inquiry intentions were low, and actual transactions remained limited. 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. The overall market atmosphere this week is relatively stable, with little change in freight prices.

 

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