SunSirs: The Third Round of Price Rising of Coke Market Landed in China (December 8-15)

According to the commodity market analysis system of SunSirs, the coke market in Shanxi was relatively strong from December 8 to December 15, 2023. On December 15, the ex factory price of quasi primary metallurgical coke was 2,430 RMB/ton, up 4.37%.

In terms of supply, the coking coal market continues to operate strongly. Recently, online auction and auction have increased, market prices have risen and fallen, and the downstream price depression mentality is becoming stronger. Only some high-quality coal prices have risen, and the market sentiment has weakened compared with the previous period.

Last week, the coke market continued to show a strong trend, with the third round of gains landing and a cumulative increase of 300-330 RMB/ton. As of the weekend, some coke companies in Shanxi and Hebei have started their fourth round of price hikes, with this round of price hikes reaching 100-110 RMB/ton. As of the time of publication, they have not yet been implemented. Affected by high raw material prices, coke companies still maintain production restrictions, with a slight decrease in operating rates last week, resulting in an overall tight supply of coke. In terms of demand, due to weather conditions, coke shipments have been slow recently, and downstream steel mills have a demand for replenishment. Currently, they are actively purchasing and have a good demand for coke. However, the finished product market has been affected by the seasonal off-season, and its recent performance has been average. Overall, the coke market is relatively strong, and we will focus on the inventory situation of coke in various links in the future.

The coke market of Shandong Port has been operating stably for the time being. The quasi primary delivery price of the port is about 2,450-2,500 RMB/ton, and the primary delivery price is 2,550-2,600 RMB/ton. The port market has been operating stably for the time being. Recently, there has been a slight increase in the inventory of the two ports, and the market trading is acceptable.

The freight price is a barometer of the port mentality. The upward freight price has a good market mentality, while the downward freight price has a weak market mentality. This week, the overall port inventory declined slightly, traders' enthusiasm for port gathering improved, and freight prices increased slightly.

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