According to the Commodity Market Analysis System of SunSirs, on December 6, 2024, the coke market in Shanxi Province remained stable with an average price of 1,725 RMB/ton. The price of metallurgical coke in Shanxi Province declined with an average price of 1,900 RMB/ton, and the coke market price remained stable last week.

Market wise: The coke market operated weakly and steadily in November. Last week, a coke enterprise in Ningxia raised the price of chemical coke by 50 RMB/ton and the price of chemical coke pellets by 50 RMB/ton. 5-10 increase by 20 RMB/ton. Wet quenching of coke powder will be increased by 20 RMB/ton, and dry quenching will be increased by 30 RMB/ton, which will be implemented from midnight on December 5, 2024. Surrounding coke enterprises will basically follow suit.

On the supply side, the operating rate of the supply side is temporarily stable, and most enterprises are actively shipping. Some enterprises are under pressure in terms of inventory. With the arrival of winter, the temperature is gradually decreasing, and steel mill profits are constantly shrinking. Currently, steel mill profits are unbalanced, and there is overcapacity in coke enterprises at this stage, and the situation has not improved.

The coke analyst from SunSirs believes that the upward momentum of coke in the later stage is not obvious, and the cost support is weak. It is expected that the coke market will maintain its current trend in the short term.

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