Coke Prices May Stop Falling After Eight Rounds of Decline, Cost Performance of Lump Ore Will Gradually Fall

Overseas shipments dropped slightly last week. From the perspective of major ports in China, only the arrivals of concentrates increased.

Last week, after coke prices fell, market’s bullish sentiment grew. The cost efficiency of lump ore may gradually fall. The inventory of lump ore at ten ports remained stable at 11.33 million mt. According to SMM research, some steel mills' finished product inventories have declined, and the operating rate of steel mills had some support. Last week, the stock of fines at ten ports fell by 1.5% to 62.24 million mt. Although the profits of steel mills have recovered, with the increase in the price of imported ore, steel mills are still relatively unwilling to choose ill be still unwilling to buy expensive products.

Operating rates of domestic pelletising plants fell last week. Demand for imported pellet improved. The inventory of pellets fell 4.1% to 6.69 million. At present, the current production enthusiasm at steel mills is strong and the output of pig iron is stable. But overseas shipments will continue to recover. It is expected that the inventories at the ten ports will accumulate.

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