Coke Prices may Fall Slightly in the Short Term

SHANGHAI, March 30 (SMM) - Coking coal market: Downstream enterprises and traders purchase on demand, hence the pressure on the shipment of some coal types in coal mines was prominent. Amid increasing inventory, the prices of some coal types continued to decline.

Coke market: On the supply side, the profits of coking company have recovered, and thus the operating rates remained stable. However, the strong wait-and-see sentiment of market weighed on shipments.

On the demand side, steel mills still had rigid demand for coke, but their own coke inventories remain at a reasonable level. Therefore, steel mills purchased cautiously.

On the whole, in light of weakening cost support and increasing inventories, it is expected that the short-term coke market may be weak.