SHANGHAI, Sep 5 (SMM) –
Coking coal market:
Recently, strict safety inspections caused some coal mines to shut down or cut production, so the supply of coking coal was still tight. Downstream began to properly increase raw material inventory. Since orders rose, some coal prices rebounded, and the overall sentiment of coking coal market improved.
Coke market:
The operation rate of coking enterprises stayed at a normal level. Coking coal price rose slightly, forming cost support on the spot price of coke. Moreover, the rising output of molten iron also supported the rigid demand for coke. With some traders starting to purchase, the shipments of coke enterprises added, leaving coking plants under little inventory pressure. Due to the high output of molten iron, the enthusiasm of steel mills to purchase increased. But the current coke inventory held by steel mills is reasonable, and the price of finished steel fluctuated within a narrow range, so steel mills mostly purchased on demand.
Overall, the high molten iron output of steel plants sustains strong demand for coke, and there is no downward trend in coking costs. The short-term coke market may run stable.
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