merlinsrevengemegaways| The long-short intertwined coke market temporarily maintains stable operation

editor2024-05-27 08:10:474News

sourcemerlinsrevengemegaways: China United Steel United Steel Network

Under the influence of the active upgrading of steel mills in various places,merlinsrevengemegawaysOn May 21, the first round of coke price cuts was implemented, with a decrease of 100-110 yuan/ton. Steel mills still have expectations of continuing price cuts after the price cuts. With the efforts of macro policies, the black system rebounded and rose again. At the same time, coking coal prices stopped falling, stabilized and even rebounded. Steel mills suspended their lowering, and coke prices temporarily stabilized.

Figure: Trend chart of coke prices in main producing areas

The transformation of supply and demand pattern has not yet been excessive

merlinsrevengemegaways| The long-short intertwined coke market temporarily maintains stable operation

Since the coking plant made a profit in early May, the company's start-up level has continued to rise, with an average of 71 per cent of coking plants operating during the monthmerlinsrevengemegaways.7%, an increase of 7 percentage points from the average start in April, and supply is gradually released. The first round of price cuts in coke prices was implemented. The mentality of coke companies weakened and they actively shipped goods. The inventory of coking plants was still at a relatively low level, and there was no significant easing.

Steel prices rebounded slightly again, the transaction situation of finished products improved, the profit level of steel mills was better, further growth of molten iron was expected, and the demand for coke from downstream steel mills was still there. At present, the volume operating rate of domestic sample blast furnace is 78merlinsrevengemegaways.11%, up 1% from the beginning of the month; the volume operating rate of Tangshan blast furnace was 94.66%, up 5.62% from last week, and continued to maintain an upward trend. Statistics show that the daily production of hot metal in domestic sample steel mills is 2.368 million tons, which is a significant increase from the average daily output of 2.25 million tons in the previous period, and the demand for coke is still relatively obvious. Statistics show that the current daily consumption of coke is 405,000 tons, an increase of 10,000 tons from the daily consumption in early May.

The cost side has stopped falling and stabilized. Some coal types have rebounded

Supply from the production area has slowly recovered, coal mine production has fallen short of expectations, and some coal mines are still suspended, making the overall supply slightly tight. Coking coal auction sentiment has improved, and transactions have increased significantly; at the same time, some intermediate speculative traders have increased their entry into the market to take goods, and some coal types have rebounded; the market is gradually developing for the better. Shanxi Anze low-sulfur main coking coal rose by 50 yuan/ton to 2000 yuan/ton.

On the whole, coke companies are currently profitable, and production is still relatively active. They have maintained normal production starts in the early stage, and supply is showing a rising trend; terminal demand has improved, steel prices have risen significantly, steel mills 'profits have recovered, and there are still expectations for further growth in molten iron. Rigid demand for coke is still relatively obvious. The tight supply and demand pattern of coke has eased, but it has not yet been significantly relaxed. There is support for both the rise and fall of coke prices. The market has mostly remained on the sidelines, while coke prices have mainly remained stable. In the future, we will continue to pay attention to the trend of finished products and changes in coking coal prices.

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