Daily Coal and Coke Review: Production Curbs, Steel Demand, and Stable yet Weak Market Outlook

[SMM Daily Review on Coal and Coke]

In terms of supply, affected by losses and environmental protection policies, some coke enterprises have expanded the scope and intensity of production restrictions, with operating rates remaining average. On the demand side, some steel mills have resumed blast furnace production, leading to an increase in purchase willingness for coke. However, most steel mills maintain coke inventories at safe levels and continue to purchase as needed. In summary, the Two Sessions policies did not exceed market expectations. Coupled with the steel mills' desire to bargain down prices for coke, the coke market is expected to operate stable with a weak trend in the short term, with the eleventh round of coke price cuts still anticipated to materialize.