Publicado: Oct 13, 2023 16:53
Steel production has decreased and steel mills' demand for coke has weakened, causing the third round of price increase sentiment in the market to weaken. On the supply side, profits of coking enterprises are still acceptable, and some coking enterprises have increased production, but 4.3-meter coking furnaces in Shanxi will be completely eliminated, and some coking enterprises may stop production in advance, which is expected to tighten coke supply. On the demand side, steel mills' losses have increased, and some steel mills have started maintenance, but iron ore production still remains high, and the demand for coke is still there. On the cost side, recent coal mine accidents have continued, and the tight supply of coking coal is difficult to change, but downstream acceptance of high-priced coking coal has also decreased, and coking coal prices are unable to continue to rise, and coking costs remain stable. In general, the supply and demand of coke continues to be tight, and the cost support is still there. Next week, there is an expectation of a third round of price increase in coke, but steel mills have strong resistance to high-priced coke, and market bullish sentiment has weakened.

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