【SMM Coking Coal and Coke Daily Review】
Coking Coal Market:
The price of low-sulfur primary coking coal in Linfen is 1,400 yuan/mt. The price of low-sulfur primary coking coal in Tangshan is 1,500 yuan/mt.
Regarding raw material fundamentals, coal mines have entered the holiday period, leading to a gradual decline in production. However, due to shrinking profits, coke enterprises have reduced their enthusiasm for raw material procurement, focusing mainly on restocking as needed. In summary, coal mines show limited willingness to lower prices, with the overall market remaining stable.
Coke Market:
The nationwide average price of Grade I metallurgical coke (dry quenching) is 1,845 yuan/mt. The nationwide average price of Quasi-Grade I metallurgical coke (dry quenching) is 1,705 yuan/mt. The nationwide average price of Grade I metallurgical coke (wet quenching) is 1,490 yuan/mt. The nationwide average price of Quasi-Grade I metallurgical coke (wet quenching) is 1,408 yuan/mt.
In terms of supply, coke enterprises are experiencing shrinking profits, with some incurring losses. However, overall production remains at previous levels, and coke inventories at coke enterprises continue to accumulate. On the demand side, with Chinese New Year approaching, the market is gradually entering holiday mode, and steel mills are primarily purchasing coke as needed. In summary, the coke market is expected to remain stable in the short term. 【SMM Steel】
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