Price trend

From February 24 to March 3, 2023, the coke market was temporarily stable. As of March 3, the price of quasi-class metallurgical coke in Shanxi was at 2,482 RMB/ton, which was flat.

Analysis review

In terms of supply: the coking coal market was boosted by the tight supply, and the market was stable and stronger. . Near the meeting, the environmental protection and safety inspection were relatively strict, and there was a certain situation of production suspension and production restriction in the production area. The supply of coking coal market was slightly tight, the downstream was improved, the purchasing enthusiasm was improved, and some quotations rose slightly.

The market price of coke remained temporarily stable this week, but the market atmosphere had rebounded to some extent. With the rising price of coking coal, the profits of coke enterprises had been affected. In addition, the supply of raw materials was tight, and some production areas were expected to reduce production. The market expected that the supply of coke was tight, and the attitude of coke enterprises to increase prices was increasing. In terms of demand, as the steel price rose in late February, the profitability of steel mills improved and the purchase intention of coke rebounded. In general, coke enterprises had a strong mentality, and the market atmosphere was improving.

This week, the price of coke at ports in Shandong Province was mainly upward. As of March 3, the ex-warehouse price of quasi-first grade coke at ports was around 2,750-2,800 RMB/ton, and the ex-warehouse price of first-grade coke was 2,850-2,900 RMB/ton. The port price was temporarily stable, the port inventory continued to rise, and the market trading atmosphere was fair.

This week, the port freight continued to rise, the port inventory rose slightly, and the enthusiasm of traders to gather at the port recovered, driving the freight price to rise slightly, and the port was in a good mood.

Market outlook

It is expected that the price of coke will be stable and stronger. The future market should focus on the price trend of coking coal, coke inventory and downstream steel sales.

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