Some Steel Mills Control Arrivals of Coke

SHANGHAI, Feb 9 (SMM) -

Coking coal market:

The supply of coking coal increased, and downstream enterprises restocked in a moderate amount. Failed online auctions were few. The coal mines quoted stably while some coal mines lower their prices to reduce their stocks.

Coke market:

On the supply side, the prices of some coal types fell, and the profits of coke companies have rebounded. The inventory of coke enterprises declined to a low level with the smooth delivery.

On the demand side, the arrivals of steel mills were good, and thus the coke inventory increased. But the prices of steel products continued to drop slightly. As such, some steel mills controlled the arrivals of coke and were cautious in procurement.

On the whole, there is no sign of recovery in terminal consumption and steel prices fluctuate downward. Some steel mills control the arrivals of goods. Coupled with the weak cost support weakens, the short-term coke prices may remain weak and stable.