SHANGHAI, Feb 2 (SMM) -
An increasing number of coal mines resumed production, growing output. But the coking coal inventories are currently low. Most market participants stand on the sidelines. Coal mines kept their quotes largely stable.
On the supply side, coking plants lacked the motivation to produce amid losses. Meanwhile, transportation has recovered, some steel mills restocked aggressively and traders also purchased cargoes. Coke inventories at coking plants have thus been on the decline.
On demand, some steel mills restarted production and this improved demand for coke. Some steel mills purchased as needed due to uncertainties over the market, though.
On the whole, the coke market looks poised to stabilise in the near term.
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