SHANGHAI, May 6 (SMM) – On the supply side, most coking plants maintained stable operating rates, with only a few cutting output. Poor shipments caused coke inventory to build up further.
On the demand side, more steel mills shut down blast furnaces for maintenance, which hurt coke demand. Steel mills’ coke inventory was at a reasonable level. On the whole, steel mills were cautious in purchasing coke.
Poor demand, coupled with falling costs and growing coke inventory, will leave coke prices vulnerable to further drop, even after the sixth round of price cuts.
