Daily Review: Coke Market Stabilizes Amid Supply Contraction and Increased Demand

[SMM Daily Review on Coal and Coke]

In terms of supply, after the eleventh round of coke price cuts was implemented, coke enterprises saw a decline in profits, with some falling into losses. As a result, these coke enterprises reduced production, leading to a slight contraction in coke supply. On the demand side, recent increases in pig iron production at steel mills have driven up daily coke consumption. Some steel mills have restocked coke, reducing control over arrivals. Additionally, some traders have made moderate purchases, resulting in overall moderate sales of coke. In summary, coke inventories at coke enterprises have declined, the fundamentals of the coke market have improved, and cost support remains solid. The coke market is expected to remain stable this week.