SunSirs: Characteristics of China Coke Market before National Day and Post Holiday Outlook

https://www.chemnet.com   Sep 29,2024 SunSirs

In September, the coke market (2232, -47.00, -2.06%) hit bottom and rebounded. The negative feedback effect of the off-season at the beginning of the month has not yet ended, and coke has landed in the eighth round of price increases and decreases, with a drop of 50-55 RMB/ton, against the backdrop of weak support from both cost and demand; But with the gradual release of terminal demand, the profitability of steel mills has improved, and the behavior of controlling raw material quantities has decreased. At the same time, the price of coking coal (1556, -15.00, -0.95%) has rebounded rapidly, and the bottom support of coke has strengthened. Driven by the dual positive factors, the coke market saw a round of rise on September 19th and September 26th, with a cumulative increase of 100-110 RMB/ton. In October, coal mines in the production area will still implement the policy of strict safety supervision throughout the year.

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