SunSirs: The Third Round of Coke Reduction is about to Come Out! Most of the Ccoking Coal Auctions have Fallen in China, with nearly Half Fail to Sell!

https://www.chemnet.com   Aug 08,2024 SunSirs

Coke market: After two consecutive rounds of coke price increases and decreases, the market sentiment is relatively pessimistic, and the expectation of a third round of price increases and decreases has emerged. At present, the profits of various coke enterprises have narrowed, and most of them are on the brink of profit and loss. The overall supply of coke is still relatively scarce. Downstream steel mills are still in the off-season of steel consumption, and the prices of finished products have fallen due to weak transactions. Steel mills still suffer from serious losses, and some steel mills have announced maintenance plans, leading to a decline in iron production. In the short term, the coke market price is expected to operate weakly

Domestic coking coal market: Due to the impact of flood prevention and control, 12 coal mines in Baota District and Zichang City of Yan'an City suspended production and sales of refined coal from August 7th to 8th, involving a coal mine production capacity of 15.2 million tons, affecting a total of 96,200 tons of raw coal production. The coal mines in other regions are maintaining a normal production pace, and the current market continues to operate weakly. Today, mainstream mining sites in Shanxi are bidding intensively, and the transaction prices are basically falling. It is not difficult to see that since last week's auction, coking coal has experienced varying degrees of decline. On the downstream side, the price of steel billets is still falling, and the performance of finished products is still average. Downstream steel mills are losing profits and demand is average, so there is still a new round of price reduction considerations for the future market. Overall, downstream cannot provide certain support for coking coal, and the domestic coking coal market continues to operate weakly.

Shipping coking coal port market: Currently, the inventory of goods in the port market is generally declining, and some coal types are in short supply for sale; On the demand side, port traders are adopting a wait-and-see attitude, terminal goods are cautious, and procurement is in high demand. Market transaction sentiment is average.

Mongolia's imported coking coal market: Recently, several steel mills have released maintenance plans, expecting further decline in iron production and difficulty in short-term improvement in terminal demand. The market is still mainly focused on replenishing inventory according to demand, and the market has a strong downward trend. Purchasing sentiment is relatively cautious, with few inquiries and transactions, and coal prices may be under pressure in the short term.

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