Coking Start-up High-level Coke Supply and Demand Flourish

As for coking coal, spot coal is running strongly under better demand, and coking coal prices have risen in many places. On the supply side, although some coal mines are tightening supervision, the overall domestic supply is stable. The import of Mongolian Coal is cleared to about 1000 vehicles per day. The overall increment at the supply side is not large. With the increase of coking profit at the demand side, coking enterprises start to maintain a high level, and the demand for coking coal is better. Coking coal supply is stable and demand is good, so short-term coking coal is still strong shocks, focusing on import policy. On the coke sector, the second round of spot rise and fall began in some areas this week, with a rise of 50-100 CNY/ton. On the supply side, the ecological environment in Shanxi has been strengthened overall supervision and environmental protection meetings have continued, but at present, the coking plant is generally limited in production, and some of them have been equipped with environmental protection equipment last year. At the same time, the coking profit has risen and coking has started actively. The coke supply is still at a high level. In terms of demand, blast furnace start-up increased and demand was good. Coke stock in steel plant increased slightly after delaying depot. Port stocks continued to increase. Overall, the coke supply and demand are booming, and the short-term trend is still strong. We should pay attention to the pressure above 2200 and the actual production restriction and inventory digestion.