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SunSirs: China Coke Market is temporarily Stable (September 8-15)

Increase font size  Decrease font size Date:2023-09-21   Views:94

  According to the commodity market analysis system of SunSirs, the coke market temporarily stabilized from September 8 to September 15, 2023. On September 15, the ex factory price of quasi first-class metallurgical coke in Shanxi region remained unchanged at 1,980 RMB/ton.

  On the supply side: Some enterprises in the mining area have recently ceased production, resulting in overall tight supply. In terms of demand, the market sentiment was good this week, with downstream actively entering the market for procurement. The sales situation in the mining area was good, with overall market prices rising and inventory operating at a low level.

  Last week, the coke market temporarily stabilized operation, and the supply side has recently seen an increase in the price of coking coal in the market. The cost of coke companies entering the furnace is relatively high, and some coke companies have started to decline. Due to the tight supply of raw material coking coal and policy restrictions on environmental protection, the market expects coking enterprises to reduce production in the future. Currently, factory inventory is generally low, and coke supply is slightly tight. In terms of demand, the overall operation of steel mills has been relatively good recently, while the overall operation of blast furnaces is relatively high. The demand for coke is still acceptable, while downstream demand is actively on the high side. Currently, the coke inventory of steel mills is relatively stable, and replenishment is mainly based on demand. In the future, it is expected that the coke market will remain stable for the time being, with a focus on the price trend of coking coal and changes in coke inventory at various stages.

  The price of coke in the Shandong port market is temporarily stable. As of the 15th, the quasi first level ex-warehouse price of the port is around 2,150-2,200 RMB/ton, and the first level ex-warehouse price is 2,250-2,300 RMB/ton. The port market is temporarily stable, with inventory in the two ports slightly increasing. The sentiment of port consolidation has recovered, and trading has been more active than in the previous period, but the actual transaction situation is average. In terms of shipping cost, it will be 205 RMB/ton from Xiaoyi to Rizhao Port on the 18th, and 195 RMB/ton from Jiexiu to Rizhao Port.

  Freight prices are a barometer of port mentality, with a positive market attitude towards upward freight prices and a weak market attitude towards downward freight prices. This week, there was little fluctuation in port inventory, and traders' enthusiasm for gathering at the port resumed. Freight prices increased, and market transactions remained weak.

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