Latest Update in the SMM Coke Market

Today, iron ore futures fluctuated upward. The most-traded I2505 contract closed at 797 yuan/mt, up 1.92% for the day. Traders showed an increased willingness to sell, while steel mills remained cautious, purchasing as needed.

[Domestic Iron Ore Brief Review: Iron Ore Concentrate Prices in Tangshan Region May Fluctuate at High Levels] The price of iron ore concentrates in the Tangshan market has shown a slight rise, with a delivery-to-factory price of 970-980 yuan/mt for 66-grade dry basis including tax; local mine operations remain at relatively low levels.

[SMM Analysis: Weak Supply and Demand in the Stainless Steel Scrap Market, Pre-Holiday Price Slump Unlikely to Change] This week, the price of 304 stainless steel scrap off-cuts in east China remained flat at 9,250-9,350 yuan/mt, while in Foshan, the price also stayed unchanged at 9,300-9,600 yuan/mt. Currently, by raw material calculation, the production cost of stainless steel made entirely from stainless steel scrap is approximately 13,002.63 yuan/mt, while that made entirely from high-grade NPI is about 13,093.31 yuan/mt. This week, a steel mill in south China did not update its procurement price for stainless steel scrap...

[SMM Rebar Daily Review: Market Gradually Enters Holiday Mode, Prices Expected to Stabilize Next Week] This week, construction steel spot prices fluctuated upward. Positive macro news supported the market, with rebar futures fluctuating upward, boosting market sentiment. Steel mills, operating at low production levels, actively raised ex-factory prices, stimulating partial winter stockpiling demand, while end-use demand continued to weaken...

[SMM Analysis: Stainless Steel Raw Material Support Strengthens Initially, Ferrochrome and NPI Prices Rebound] This week, stainless steel electronic trading fluctuated rangebound and trended upward, driving spot prices to continue rising. The weekly average price of private 304 cold-rolled stainless steel reached 13,030 yuan/mt this week, up by approximately 120 yuan/mt compared to last week.

[SMM Analysis: Electronic Futures Market Edges Higher Amid South Korea's Anti-Dumping Duties] This week, the most-traded SS2503 futures contract price remained stable overall. The opening price on Monday was 13,175 yuan/mt, and after a period of fluctuation, it rose to a two-month high of 13,340 yuan/mt on Friday, finally closing at 13,320 yuan/mt.

[SMM Analysis: Narrow Destocking of Stainless Steel Inventory, Spot Prices Rise Boosted by Raw Materials] This week, stainless steel social inventory decreased by 0.75% MoM. Specifically, in Wuxi, the 200-series inventory fell by 0.67%, the 300-series by 0.26%, and the 400-series by 0.8%; in Foshan, the 200-series dropped by 1.30%, the 300-series by 1.07%, and the 400-series by 0.9%.

[Restocking Has Basically Ended, Coke Fundamentals May Continue to Be Loose] From a profitability perspective, most coke enterprises still maintain profits, which has a positive impact on their production. From an inventory perspective, coke enterprise inventories continue to accumulate, and downstream steel mills mainly purchase as needed, with low willingness to restock. From an environmental protection perspective, environmental protection inspections in various regions have been relaxed, leading to increased production in coke enterprises that previously reduced production due to environmental factors. Moving forward, there is a risk of losses for coke enterprises, but it remains within a tolerable range for most. Production conditions are relatively stable, and coke supply is expected to remain steady before the Chinese New Year...