Coke Prices Likely to Rise Driven by Growing Demand

SHANGHAI, Feb 28 (SMM) - Coke quotes offered by some coke companies in Shandong, Hebei and other places were raised by 100-110 yuan/mt yesterday. Downstream demand is gradually improving, reducing coke stocks carried by coke companies. And some became reluctant to sell.
On the demand side, coke demand from steel mills kept growing. As steel consumption has gradually picked up recently, the profit margins of steel mills grew, which further drove the pig iron output.
The shipments of coke companies increased thanks to the higher purchasing volume by some traders and steel mills. In addition, coking coal prices rose. The short-term coke prices may be stable with occasional rises.