SHANGHAI, Feb 24 (SMM) - Downstream companies became more willing to purchase, and so did the traders. The overall coking coal supply may be tightened by the coal mine collapse in Inner Mongolia. Coking coal quotes offered by coal mines were stable. However, shipments of some coals were under pressure, and the prices fell.
Coke inventory held by coke companies remained low on the higher production enthusiasm and better shipments of the producers. Some coke enterprises intended to quote higher prices owing to the firm cost support. Steel mills' purchasing volume of coke grew amid the rising steel prices and increasing spot steel transactions. On the whole, the market sentiment improved, and the coke supply and demand were basically balanced. Besides, coking coal prices remained stable, supporting the coke prices. Some coke companies have begun to take a bullish attitude towards the market outlook. It is expected that the short-term coke prices may run steadily.
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