Futures: coke2005 fluctuated on Wednesday, closing at 1,863 (up 9), adding more than 16,000 daily positions and increasing trading volume. The news of multi-site capacity removal and production limit shutdown has affected the coke concussion and strength; at present, the low-cost support of coke is strengthened, while the downstream demand of finished material is weakened. The coke market may fluctuate in a wide and strong way. Pay attention to the influence of capital sentiment, market sentiment change and the linkage between supply and demand of limited production.

Spot: today's coke market is strong and normal. Quotation of quasi first grade metallurgical coke: 1,800 RMB/ton for Rizhao Port, 1,950 RMB/ton for closing warehouse, 1,700 RMB/ton for Linfen and 1,860 RMB/ton for Tangshan. In terms of coke enterprises, due to the impact of environmental protection and capacity reduction, the frequency of intermittent production restriction of coke enterprises in many places increases, the inventory in the field is low and medium, the volume of pre-sale increases, coke enterprises in some areas of the main production area have queuing phenomenon, and coke enterprises are optimistic. In terms of ports, the reluctance of traders to sell has increased, and the port volume has not increased significantly. In terms of steel plants, the demand is relatively stable, and normal procurement is carried out. Some low inventory steel plants have appropriate demand for increasing storage. Some steel plants still fail to accept the price increase in the second round. It is expected that the short-term spot price of Coke will be stable, moderate and strong.

Strategic analysis: Currently, the global economy is under great pressure, and trade consultation and communication are under way; the government strengthens macro-control, strictly controls real estate, increases infrastructure and ensures the economy, marginal recovery of financial data in November, and both RMB loans and social finance are released. The output of finished products remains high, and with the coming of the off-season, the demand is falling. This year's El Nino factors have led to the deviation of meteorological conditions in autumn and winter, frequent coal mine accidents and stricter safety inspection. In some areas, coke capacity reduction and production suspension have been gradually implemented. Coke or wide and strong fluctuation has been observed. Pay attention to the key financial sentiment and initiative.

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