Coke Prices May Stabilise This Week

SHANGHAI, Mar 16 (SMM)- On the supply side, output of coke company was reduced due to the environmental protection. However, the overall coke supply fell only slightly amid restoring profit. On the demand side, the output of pig iron in steel mills continued to increase slowly, driving up the demand for coke. On the cost side, the impact of coal mine accidents has weakened, and thus the prices of some coal types have declined. Coking company and steel mills are less willing to restock and the coking coal prices may decline further. To sum up, the supply and demand of coke are basically balanced and the declining costs of coal have weakened the support of coke prices. SMM believes that the coke market may operate stably this week.