SunSirs: Winter Storage Boosted China Coke Market on November 30
December 02 2022 10:57:10 SunSirs (Selena)
According to the price monitoring of SunSirs, the price of quasi first grade metallurgical coke in Shanxi Province on November 30 was 2,400 RMB/ ton, unchanged from the previous trading day. The average market price of primary metallurgical coke was 2,558.33 RMB/ ton, up 0.26% and 2.58% year on year compared with the previous trading day.
Near the end of the year, there is a certain expectation of limited production in the mining area. The increase of areas with poor automobile transportation will affect the delivery of coking coal in the region, and the overall supply of coking coal is slightly strained. The demand of downstream enterprises for winter storage still exists. With the support of demand, the mining area has a strong attitude of price fixing, and some coal types are operating on the strong side, which has a strong boost to the coke market and is good for the coke market.
The coke market continues to operate stably, moderately and strongly. In terms of supply, coking enterprises still lost money. Affected by profits, they took the initiative to limit production, and coke supply was slightly strained. In terms of demand, there is still demand for winter storage in the steel plant, coke procurement is good, and the coke inventory in the plant is low, so the warehouse is actively replenished. In the future market, the coal coke steel industry chain is in a seasonal off-season as a whole. SunSirs expects the coke market to be bullish in the short term, but there is limited room for growth. The future market will focus on the price trend of coking coal and the coke inventory in China.
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