The dilemma of coke price rise and fall still takes time to de-inventory

After the implementation of the third round of coke price reduction of 50 CNY/ton in the mainstream market and a cumulative reduction of 250 CNY/ton, the coke price tends to be calm, the market is becoming more stable, the coke market is in a more delicate stage, the market has no obvious voice of increase or decrease, and the coke price falls into a dilemma of rise and fall.

In April, Tangshan Iron and Steel Works resumed work one after another, the productivity and utilization ratio of blast furnace increased, and coke demand improved slightly, but because of the high stock accumulated in the earlier period, the coke price was suppressed to a certain extent. At present, although the profit of coke enterprises is not good, the initiative to reduce production momentum is insufficient, and the coke supply is on the loose side. In particular, port coke stocks continue to rise, due to the recent slow flow of port cargo, Rizhao Port coke stockpile free period from 60 days to 30 days, storage costs from 1 gross to 1 yuan (10 times). This policy is bound to exert some pressure on the inventory of coke enterprises in Shanxi and other places, because the demand for investment trade will be affected. In terms of mentality, most coke enterprises think that with the re-production of steel plants in Hebei and other places, the demand for coke has risen, and the price of coke has reached the bottom, but the overall inventory of coke is high, and it is difficult to rise. In terms of steel mills, the arrival of goods is stable, coke inventory is at the upper and middle level, and the stock of mainstream steel mills has declined slightly in recent years. In terms of mentality, steel mills hold a wait-and-see attitude towards the coke market, and continue to depress the mentality of coke prices. Generally speaking, the coke market has strong wait-and-see sentiment, and the price of coke is in a dilemma. The short-term coke market is expected to operate steadily.