SMM Daily Comment On Domestic Coking Coal And Coke Market (Sep 11)

SHANGHAI, Sep 11(SMM) –

Coking coal market:

Some coal mines have resumed production, but at a tepid pace because of strict safety inspections. The overall supply of coking coal was temporarily stable. Traders’ purchasing activities were active recently, driving up coal prices.

Coke market:

On the supply side, the cost of coking coal increased, squeezing coking companies’ profits. But the limited losses had little impact on the operating rate and coke output stabilized at a high level. On the demand side, bullih market sentiment drove futures prices to rise sharply. Daily molten iron output was 2.48 million mt, indicating strong demand for coke.

Overall, the demand for coke rose and the supply and demand achieved a tight balance. In the short term, coke market may rebound slightly.