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SunSirs: China Coke Market Continued to Decline in March 2021

Increase font size  Decrease font size Date:2021-04-08   Views:7

  In March 2021, China coke market went through seven rounds of downward adjustment. After the Spring Festival, there were eight rounds of downward adjustment, with a cumulative decrease of 800 RMB/ ton. So far, the mainstream price of Shanxi market is 2,560 RMB/ ton at the beginning of the month and 1,880 RMB/ ton at the end of the month, with a monthly decrease of 26.56%.

  The coke commodity index on April 1 was 98.69, unchanged from the previous day, down 29.32% from the highest point 139.63 (2021-02-22) in the cycle, and up 184.82% from the lowest point 34.65 on March 3, 2016. (Note: period refers to 2011-09-01 to now).

  In March, the coke market went down all the way. By March 31, a total of 8 rounds of reductions were made, with a reduction of 800 RMB/ ton. Affected by the normalization of environmental protection policies in Tangshan area, the daily production limit of downstream steel plants is 30%- 50%, which will continue until March 21. At present, the demand for coke in steel plants is slowing down. Although coking enterprises have experienced eight rounds of downward adjustment, their profits are still acceptable, and their operation is still high. At present, there is no production reduction plan. Near the end of the month, the price of coke futures rose, boosting the port market. The port gathering situation improved, and the inventory continued to rise. However, under the influence of the overall high inventory situation in China and the loose supply pattern in the future, the market transaction is still limited.

  In the future, SunSirs believes that there is no production reduction plan for coking enterprises at present, and there is a strong expectation of loose supply in the future. Although the futures market has a positive attitude towards the market, the overall transaction is still limited. It is expected that the follow-up coke spot market in China is still weak.

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