It is reported that Chinese coke market in September dived nationally from a partial slip in August. As continuous weakness persists in the market, and steel production was limited, demand for coke decreased. Furthermore, mills with their own coke oven plants have reduced or even suspended coke purchase, leading to coke price decline with thin deals closed.

 

As per report coke oven plants achieve an unpleasant sale. Although they have restricted production, the socks still keep jumping, which has pushed plants to slash ex-factory price for a promotion to collect cash.

 

Affected by global gloomy economy, international steel prices are seen to fall down amid global bleak steel market, which would also drag down coke export price. Besides, domestic steel market remains sluggish with prices sliding, and steel production limitation or suspending lowers coke consumption, which is expected to remain unchanged in October when coke price would probably dive further.

 

Moreover, coking enterprises are under a sale pressure amid slim market. As limited production didn’t change the rising stocks, plants are forced to slash prices for sale. On the other hand, the weak coking market has also dampened the demand for coking coal, which is priced lower in some areas. Coal market will hardly stay firm at the later stage if coking enterprises continually restrict production.

 

 

Editor:    Ivy

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