SunSirs: China Coke Market is currently Stable (May 31-June 7)

https://www.chemnet.com   Jun 11,2024 SunSirs

According to the commodity market analysis system of SunSirs, the coke market in Shanxi region remained stable from May 31 to June 7, 2024. As of June 7, the ex factory price of quasi first-class metallurgical coke was 1,960 RMB/ton, unchanged.

Upstream market: Last week, the coking coal market was temporarily stable, and the supply side of coal mines has maintained normal operation recently. The double coke market has declined, and downstream procurement is cautious. The recent auction performance has been poor, with many unsold auctions, and some coal prices have declined. The market mentality is weak.

Last week, the coke market temporarily remained stable, and there has been little change in supply for coke enterprises. The supply of coke is relatively stable, and enterprises are actively exporting. The recent slight drop in coke coal prices has weakened the mentality of coke enterprises. In terms of demand, the downstream steel market has entered a low consumption season, putting pressure on the steel market and being cautious in purchasing coke. Lack of demand support. Currently, the mentality of coke enterprises has weakened, and it is expected that the market will remain stable, moderate, and weak in the short term. Focus on the trend of steel prices in the later stage.

The coke market in Shandong Port saw a slight increase in quotations, while the futures market strengthened, leading to an improvement in the port market sentiment. Downstream inquiry intentions were low, and actual transactions remained limited. Freight is a barometer that reflects the mentality of the port market. When the port procurement mentality is positive, freight increases. Port mentality is wait-and-see, and freight prices decline when purchasing intentions are low. Last week, the overall market atmosphere was weak, and freight prices were lowered.

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