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Coke Prices with Weakening Cost Support
Jun 28, 2022 14:24CST
Source:SMM
On the demand side, blast furnace maintenance was frequent amid poor terminal demand and expanding losses, and the demand for coke contracted as well.

SHANGHAI, Jun 28 (SMM) – As some players were still bearish on coking coal prices, the shipments of coal were not smooth, resulting in rising coking coal inventory at the mines, and the prices kept falling as well.

For coke, some coking enterprises reduced their production due to losses, and the in-plant coke inventory rose to varying degrees caused by poor sales. Coupled with the fact that coking coal prices have been falling, the cost support weakened.

On the demand side, blast furnace maintenance was frequent amid poor terminal demand and expanding losses, and the demand for coke contracted as well.

To sum up, the cost support from coke weakened recently, and the coke prices are likely to fall further, while coking companies still suffered losses. In light of the poor stainless steel market and expanding blast furnace maintenance, steel mills are more than likely to force down coke prices. As such, coke prices are likely to fall in the near future.

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