[SMM Daily Review of Coking Coal and Coke]
Coking Coal Market:
Linfen low-sulphur coking coal offer at 2,020 yuan/mt.
Coking coal side, mine production resumptions in producing areas have been slow, and coal supply is tight. Coke plants and traders are cautious in procurement, order signing at coal enterprises has slowed down, and some coal washing plants and traders have lowered prices to sell. Coal enterprises have low inventory, quotes remain stable temporarily, and the market outlook is mostly with a wait-and-see sentiment.
Coke Market:
The nationwide average price of quasi-first-grade metallurgical coke (dry quenched) is 2,090 yuan/mt.
Market rumors suggest that a coke price cut is being prepared and will be proposed next Monday. Supply side, after profitability recovery, coke plants have moderate operating rates, and coke supply is stable. However, traders have started selling, diverting clients, and overall coke inventory at coke plants has accumulated, with a strong willingness to sell. Demand side, steel inventory is building up, hot metal production at steel mill blast furnaces has pulled back, and coke rigid demand weakens. Combined with falling steel product prices, squeezing steel mill profits, some steel mills strictly control incremental restocking of coke. In summary, the coke and steel sectors continue to vie with each other, and the short-term coke market may operate in the doldrums. [SMM Steel]
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