Stable-to-weak coke prices may unfold this week

Suspension of coal feeding into Shanxi's 4.3-meter coke oven tightened coke supply. There was pig iron output reduction amid more BF maintenance. Furthermore, some steel mills suffered losses of more than 200 yuan/mt. Therefore, coke demand diminished. Coke supply and demand will be weak, maintaining a balanced situation for the time being. Coke market will witness waning cost support. Moreover, there will be a growing reluctance among steel mills to accept high-priced coke prices. Under such circumstance, coke prices may be stable-to-soft this week.