According to the Commodity Market Analysis System of SunSirs, on November 29, 2024, the coke market in Shanxi Province experienced a narrow decline, with an average price of 1,725 RMB/ton. The price of metallurgical coke in Shanxi Province also declined, with an average price of 1,900 RMB/ton. In November, the domestic coke market was mainly weak, with a narrow decline in prices. The raw material coking coal market fluctuated narrowly, with some downward adjustments. Most coke enterprises have low profits, but their production willingness is relatively strong. They mainly sell at a discounted price and actively sell. Currently, the demand for steel in the market is weak.
In terms of the market, the coke market operated weakly in November, with weak prices of raw materials on the supply side and relatively stable costs for coke enterprises. Currently, the supply of coke is relatively loose, and there is a certain demand for coke due to stable operating rates of steel mills. However, the purchasing mentality is cautious and the willingness to control quantity is obvious. The arrival situation of steel mills is good, and the inventory of coke on site is relatively high. It is expected that the current trend of coke will be maintained in the short term, with a focus on stable and weak operation.
In terms of price, currently, the bulk chemical coke in the Ningxia market is priced at 1,430-1,450 RMB/ton; The price of bulk chemical coke in the Inner Mongolia market ranges from 1,380 to 1,445 RMB/ton; The price of wet quenched chemical coke in the Xinjiang market ranges from 1,030-1,050 RMB/ton, all of which are cash inclusive of tax at the factory price. On November 29th, the price of metallurgical coke in the Hancheng market remained stable, with first grade coke dry quenched at 1775 RMB/ton and quasi first grade coke wet quenched at 1,740 RMB/ton, both of which are cash inclusive of tax at the factory price. On November 29th, the price of coke in the Binzhou market remained stable, with local quasi first grade A13 dry quenched at 1,955-1,975 RMB/ton and second grade wet quenched at 1610 RMB/ton, both of which are factory inclusive of tax.
In terms of coking coal: Currently, the coking coal market is running weakly, and the supply of coking coal is relatively stable with loose supply. The market transaction atmosphere is average, and online auction prices have been lowered, resulting in a decrease in transaction volume. Some coal mines have accumulated a small amount of inventory, and port inventory pressure is relatively high. Currently, coking enterprises have average profits and mainly purchase raw coking coal according to demand. It is expected that the coking coal market will experience fluctuations and consolidation in the short term.
The coke analyst from SunSirs believes that the price of coke fell in November, and the pressure of port inventory was relatively high, resulting in a weak price operation. The price of coking coal also fell, and downstream markets mainly purchased at low prices to maintain low inventory operations. The overall market's procurement of coke is relatively slow, and the pressure on the coke market still exists. In the short term, it will maintain a stable, medium, and strong trend.
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