SMM Daily Comment On Coking Coal And Coke Markets (Apr 20, 2023)

SHANGHAI, Apr 20 (SMM) – Coking coal market: Traders took a wait-and-see approach, while downstream companies restocked as needed. Coking coal stocks continued to accumulate. Come coking coal mines failed to find buyers through bids. Prices of some types of coal are still at risk of falling.

Coke market: Coking plants are producing actively, while demand is poor, causing their inventory to build up. Stable operations of blast furnaces ensure rigid demand for coke. However, poor end demand, thin profits and tight cash flows keep steel mills cautious in coke procurement. It is expected that the short-term coke prices will face downward pressure amid poor fundamentals.