SunSirs: Coke Market is Stable in China in Short Term
July 05 2023 13:34:32 SunSirs (Selena)
On July 3, the market saw a wide range of weak fluctuations, and there were rumors that the crude steel reduction policy was about to be implemented in the market. The raw materials on the market were affected, resulting in an expansion of finished product profits. The spot coke market was temporarily stable, and finished product transactions were good. The reduction was partially offset by strong policy expectations. The total inventory has maintained a small accumulation, carbon element destocking has narrowed, coke production has slightly decreased, and the high level of molten iron has increased, but it is expected to reach its peak. The contradiction itself is not significant. The steel plant maintains a certain profit margin, and the molten iron is expected to maintain a high level in the short term. However, the willingness to replenish inventory is still weak, and the short-term supply and demand may maintain a slightly loose balance. The subsequent game points revolve around real demand, stimulus and reduction policies. The export of finished products remains strong, and domestic demand is expected to continue to weaken seasonally. The sentiment of the market betting on reducing crude steel has increased, and the market may fluctuate, but it can still be bullish and bearish. In the later stage of the game, policy gains may be falsified or the demand side may decline.
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