SMM Daily Comment On Domestic Coking Coal And Coke Market (Sep 8)

SHANGHAI, Sep 8(SMM) –

Coking coal market:

With tighter safety inspections, coal mine output was at a low to medium level. Coking coal supply continued to be tight, while more demand from downstream buyers was reported, and traders started picking up coking coal. Therefore, there was acceptable delivery for coking coal. Coking coal prices hiked, and some high-quality coal types are still expected to increase.

Coke market:

With normal production against a pick-up of delivery, coking plants saw low coke inventory. While robust demand from steel mills was felt from impact of shrinking coke inventory at steel mills amid high operating rate.

On the whole, booming demand from steel mills and buying appetites from some traders improved shipment situation of coking plants. Furthermore, stable-to-higher coking coal prices gave a big boost to coke spot prices. The short-term coke prices will be stable-to-firm on the near-term horizon.