The short-term coke market is stable and has limited space for further growth

The short-term coke market is relatively strong, and the third round of increase of coke is basically on the ground. At present, there are still short-term production restrictions caused by heavy pollution weather warning in Luliang, Yuncheng and other areas of Shanxi Province; Shandong Jinan issued the notice of peak shifting production plan in autumn and winter on 27th, with limited production of blast furnaces in some steel plants, coking enterprises extended coking time, and the short-term market impact is small. At present, the inventory of most downstream steel plants is in the middle and high level, and the arrival volume has increased in the near future. Considering the rain and snow weather in the later period and the approach of Spring Festival, the enthusiasm of replenishment of steel plants in some regions has increased, and the enthusiasm of short-term procurement is high. On the whole, affected by the decline of steel plant profits, there is limited space for further increase of coke.

In recent years, the coke inventory of coke enterprises has declined slightly, and the start-up of the supply side has declined, and the supply of coke is slightly tight. As of last Friday, according to the sample survey data of 230 independent coke enterprises collected by Mysteel, the utilization rate of production capacity is 72.25%, down 0.42%; the average daily output is 644100 tons, down 1700 tons; the coke inventory is 956100 tons, down 86800 tons, mainly due to the small increase of production restriction due to the influence of natural gas early warning in Luliang, Yuncheng and other regions of Shanxi Province, and the operation in other regions is relatively stable, with coke enterprises resuming production in some regions Phenomenon: in terms of inventory, the recent decline in coke inventory is mainly due to the fact that the third round of increase in coke has been basically settled in an all-round way, the enthusiasm of coke enterprises for shipment has been improved, and the mentality of coke enterprises is still optimistic. In recent years, the coke stock in the steel plant is on the rise.

At present, the blast furnace in the steel plant can be started, and some low stock steel plants have high enthusiasm for replenishment. As of last Friday, Mysteel counted 110 samples of steel mills in China this week: the coke inventory was 4.7907 million tons, an increase of 65400 tons, and the average available days were 15.53 days, a decrease of 0.06 days. However, considering that the recent profit of steel mills continued to shrink, the blast furnace operation of some steel mills in Hebei declined slightly, and the resistance of coke continued to increase. Generally speaking, the short-term coke market is mostly stable temporarily. Restricted by the short-term profit space of the steel plant, there is limited space to continue to rise. It is necessary to focus on the changes in the profit of the steel plant and the subsequent changes in inventory caused by severe rain and snow weather.