Dec. 16, 2024: Coke Latest News
Dec 16, 2024
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Dec. 16, 2024: Coke Latest News: Coke (2232, -47.00, -2.06%), the spot market shock operation, Rizhao quasi-a metallurgical coke rose 30CNY/ ton, Tianjin, Luliang, Tangshan quasi-a metallurgical coke fell 50CNY/ ton, coke futures 2501 contract rose 23.5CNY/ ton, the basis strengthened.
On the supply side, the rebound in steel prices eases the pressure on steel mills, the improvement in terminal prices improves the expectation of coke enterprises on future coke demand, and the production profits of coke enterprises have fallen, but there are still meager profits, and the current profit of coke enterprises is about 10CNY/ ton; Dec. 16, 2024: Coke Latest News
The operating rate of coke enterprises fell slightly, and the average daily output of independent coke enterprises decreased by 0.15 million tons this week, and the average daily output of coke at 247 steel mills decreased by 0.11 million tons. Dec. 16, 2024: Coke Latest News
On the demand side, the seasonal off-season of terminal demand, steel price shock operation, some steel mills began winter break, 247 steel mills blast furnace operating rate decreased by 0.92%, hot metal production decreased by 0.1,400 tons/day, spot demand for coke continued to weaken slightly, some steel mills are optimistic about the pace of future demand winter storage. Dec. 16, 2024: Coke Latest News
In terms of inventory, this week 230 independent coke enterprises inventory inventory of 0.64 million tons, steel coke inventory inventory of 194,500 tons, coke port inventory to warehouse 20,100 tons, coke total inventory increased by 163,800 tons.
In summary, the terminal demand continues the seasonal off-season, steel mills on the future demand expectations diverging, some steel mills to weaken the winter demand for coke, blast furnace operating rate fell, some steel mills to accelerate the pace of coke winter storage, coke production profits fell marginal decline, coke supply and demand have reduced, short-term balance; Dec. 16, 2024: Coke Latest News
At the policy end, monetary policy has turned to moderate easing, fiscal policy is more positive, there is support for steel demand expectations, weak reality and strong expectations dominate the market game, and it is expected that the short-term coke disk will show a shock operation trend.
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