Core point of view: In spite of profit erosions, steel mills decreased pig iron output at a slow pace last week, fuelling rigid coke demand. Accident-generated shutdown of coal mine lingered last week, tightening coking coal supply. In a word, coke supply and demand will be in a tight balance. Cost support will be strong. Moreover, the third round of coke price increases may occur. Therefore, coke market may firm up this week.
3. Coke market may firm up this week
- Dec 04, 2023, at 10:39 am
- SMM
Core point of view: In spite of profit erosions, steel mills decreased pig iron output at a slow pace last week, fuelling rigid coke demand.
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With higher regulatory pressure and waning fundamentals support, iron ore price may still dip
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Operating rates of BF steel mills edged down due to annual maintenance of some BFs, while the increase in operating rates of EF steel mills significantly slowed down
