SHANGHAI, May 6 (SMM) - Coking coal: Coal mines maintained normal production, while downstream companies restocked as needed. Coal mines are still under pressure to sell. Inventories of some coal mines accumulated, and quotations may continue to be lowered.
Coke market: On the supply side, coke inventory was high and a few coking plants cut output. Most coking plants maintained stable operating rates. Poor shipments caused coke inventory to build up further.
On the demand side, more steel mills shut down blast furnaces for maintenance, which hurt coke demand. Steel mills’ coke inventory was at a reasonable level. On the whole, steel mills were cautious in purchasing coke. This, coupled with falling costs and growing coke inventory, will leave coke prices vulnerable to further drop, even after the sixth round of price cuts.
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