Daily Review: Coke Market Faces Steady Decline Amid Limited Cost Reduction and Moderate Demand

[SMM Daily Review on Coal and Coke]

In terms of supply, after the tenth round of coke price cuts was implemented, most coke enterprises fell into losses, and the downside room for costs was limited, making it difficult for coke enterprises to restore profitability. Some coke enterprises reduced their operating rates, leading to a decline in coke supply. On the demand side, end-use demand was generally moderate, pig iron production at steel mills declined slowly, reducing daily coke consumption. Meanwhile, coke inventories at steel mills remained at reasonable levels, with coke purchases mainly on an as-needed basis. In summary, coke enterprise inventories remain relatively high, and the short-term coke market may operate steadily with a weakening trend.