Short-Term Coke Prices to Stabilise with some Possible Declines amid the Poor Downstream Demand

SHANGHAI, Feb 10 (SMM) - On the supply side, the prices of some coal types have fallen recently, thus the profits of coke companies have rebounded. Currently, coke companies are shipping smoothly, and the inventory pressure gradually eases. Coke stocks carried by the producers remained low.
On the demand side, steel mills' in-plant inventories of coke grew somewhat, but the prices of steel products continued to drop slightly. Some steel mills controlled the arrival rhythm of coke, and they were cautious in purchasing.
In general, terminal consumption showed no signs of recovery. Some steel mills controlled their inventories of coke amid the falling steel prices. What's more, cost support for coke prices weakened. SMM believes that the short-term coke prices may stay stable with possible declines.