Coking coal market: The market sentiment appeared positive, and downstream buyers’ enthusiasm for procurement increased. In addition, on-line auctions completed successfully, and trading prices of most of the transactions were at a premium. The auction sentiment appeared good. In Shanxi, boosted by coking coal supply reduction triggered by safety inspections and shut-down of some coal mines, prices of some coal types are expected to keep hiking.
Coke market: On the supply side, coke plants temporarily stabilized their operations, and traders picked up goods. Therefore, some coke plants still had low or zero coke inventories, but the sustainability was insufficient, thus most of them showed no willingness to increase production.
On the demand side, taking directions from soaring steel price, pig iron production of steel mills steadily mounted, thereby increasing demand for coke.
On the whole, with high operating rate, steel mills had robust demand for coke, and some increased their coke replenishment demand. In addition, traders also actively brought goods. At the same time, coke cost support increased. The coke market may swing on a stable-to-strong note in a short run.
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