Coke Prices to Go Down as Bearish Factors Dominate

SHANGHAI, Apr 4 (SMM) – Raw material: Coal prices dipped 100-170 yuan/mt amid poor shipments.

Supply: Coke supply continued to grow as improving profit margins encouraged coking plants to ramp up production. Some coking plants report inventory backlogs.

Demand: Steel mills are cautious about purchasing due to weaker-than-expected demand recovery and sufficient coke stocks.

To sum up, coke prices may drop in the near term.