According to the commodity market analysis system of SunSirs, from December 15th to December 22nd, 2023, the coke market in Shanxi region remained stable. On December 22nd, the ex factory price of quasi first level metallurgical coke was 2,430 RMB/ton, which is temporarily stable.
In terms of supply, the coking coal market is operating weakly, with an increase in online auctions and a decline in transaction prices for some coal types. Downstream pressure on prices is becoming stronger, and market sentiment is weakening compared to the previous period. There is a demand for replenishment in the downstream market in the near future, mainly to maintain the demand for replenishment in the immediate future.
Last week, the coke market temporarily stabilized, and the difficulty of implementing the third round of price hikes increased. The gaming mentality of coke steel remained strong. On the supply side, the price of coking coal has declined this week, leading to a decrease in the cost of entering the furnace for coking enterprises. Some enterprises have increased production, and the comprehensive operating rate has slightly rebounded compared to last week. With the improvement of transportation conditions in various regions this week, the shipment of coke has improved, and the inventory in coking enterprises has significantly declined. The mentality of coking enterprises is still acceptable. In terms of demand, the enthusiasm for finished products is low during the off-season, and some steel mills have maintenance plans. The overall operating rate has declined, and coke needs to be replenished according to demand. Hard demand support still exists. Under the supply and demand game mentality in the future, it is expected that the coke market will maintain a relatively stable operation in the short term.
The coke market in Shandong Port is currently operating steadily, with a quasi first level outbound price of around 2,400-2,450 RMB/ton and a first level outbound price of 2,500-2,550 RMB/ton. The port market is currently operating steadily, but there has been a lack of enthusiasm for port consolidation recently, with slightly weak market trading and overall weak market atmosphere.
Freight prices are a barometer of port mentality. Market sentiment is positive when freight prices rise, but weak when freight prices fall. Last week, the overall inventory at the port declined, and the enthusiasm of traders to gather at the port improved, resulting in a slight increase in freight prices.
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