Coke price is stable, coke pays attention to inventory

Yesterday, the main contract of coking coal shocks mainly. JM1909 closed at $1318.5 per ton with a position of 191,000 hands. Spot, coking coal prices in some parts of Shanxi fell slightly. The supply of imported coal is stable. In the further release of domestic coal mine production, domestic end supply has increased. Coking starts at a high level and demand is good. In the later period, the supply of coking coal increased gradually, and the demand increased slightly. In April, we paid attention to the delivery of JM1905 contract, JM1909 contract or shocks.

Yesterday, with the thread falling, the main coke contract oscillation downward. At the closing date, J1909 contract closed at 2012 CNY/ton, with a position of 307,000 hands. Spot, coke enterprises continue to bid up, some areas increased 50-100 CNY/ton, but the steel mill has not yet accepted, pay attention to the situation of rising and falling land in the later period. Although in some areas, the production limit is in general, and the coking start-up rate has risen to a high level. Demand end increases steadily with the return of some blast furnaces. At present, the main contradiction of coke is high inventory. Coke stocks continue to accumulate under the high supply of coking plants, but in the recent speculative demand of port traders, coking plant stocks moved to the port, and port stocks continued to increase. In the later stage, we should pay attention to the digestion of port stock. At present, the main contradiction of coke fundamentals is still high inventory, short-term self-oscillation is dominant, or follow the trend of threads.

At present, the sales of some coal types in Hangkou have improved slightly. The price of Yulin area is still affected by the coal pipe ticket, and the price has risen slightly. However, most of them are still in sufficient supply, the port transaction is still weak and lack of hot spots. At present, the mainstream price of 5500 cards is 625-635 CNY/ton, and the price of 5000 cards is 535-540 CNY/ton. The terminal inventory is abundant, the daily consumption of power plants is low, and the six major power plants have fallen to 600,000 tons. In the future, we will pay attention to the import customs clearance and patiently wait for a breakthrough. The 909 contract is still treated in the range of 575-600 CNY/ton.