According to the commodity market analysis system of SunSirs, from February 18 to February 23, 2024, the third round of increase and decrease in the coke market in Shanxi region was implemented. As of February 23, the ex factory price of quasi first grade metallurgical coke was 2,125 RMB/ton, a decrease of 4.57% during the cycle.

In terms of supply: The coking coal market continues to maintain weak and stable operation after the holiday, and the mining area has basically resumed normal production with an increase in supply. With the resumption of normal logistics, the mining area has actively shipped goods recently, and the market atmosphere has improved. Downstream coking enterprises are mainly affected by profits and replenish inventory as needed.

The coke market is operating weakly, and the third round of price reductions after the Spring Festival has quickly landed, with a price drop of 10-110 RMB/ton in this round. Affected by the rise and fall, the overall profits of coke enterprises are generally low, and there are more enterprises actively limiting production. Currently, the operating rate has significantly declined, and the supply of coke has tightened compared to the previous period. However, due to adverse weather conditions, some regions have difficulty shipping, and the overall inventory of coke enterprises is high. Currently, enterprises are actively reducing inventory. In terms of demand, downstream steel mills have recently seen low profits. The overall purchasing enthusiasm is weak, with the focus on replenishing inventory as needed. By the weekend, traders began to inquire in the market, which boosted the atmosphere on the market and partially improved the mentality of Jiao enterprises. Overall, the coke market will continue to maintain a weak and stable trend in the near future, with a focus on the inventory situation of coke in various links in the future.

The coke market in Shandong ports has slightly declined, with the quasi first level outbound price at around 2,170-2,200 RMB/ton and the first level outbound price at 2,270-2,300 RMB/ton. Affected by weather, inventory levels are operating weakly, and the port market atmosphere is somewhat wait-and-see, with limited negotiations and weak trading.

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 port inventory was relatively stable, and during the holiday period, the overall negotiation atmosphere at the port was weak. The enthusiasm of traders to gather at the port was low, and the overall port freight prices declined.

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