News summary
Coking coal 2409 contract rose 1%cmspinsfree, the coke 2409 contract rose 1cmspinsfree.39%, spot prices in mainstream regions are stable. Steel demand in Southeast Asia has increased, the capacity utilization rate of coke enterprises across the country has increased, coke inventories have declined, and coking coal inventories have increased. Financial policies help high-quality transportation development, and favorable policies support coke demand.
Newsletter text
[Coking coal and coke contract prices rise, market supply stabilizes]
The coking coal 2409 contract closed at 1814 yuan, an increase of 1%. Spot market quotations in mainstream regions remained stable.
The coke 2409 contract closed at 2,374.5 yuan, an increase of 1.39%, and the price of the spot market in mainstream regions also remained unchanged.
The coking coal ratio fell 0.05% month-on-month and is currently 1.31.
The Southeast Asian Steel Association (SEAISI) expects Southeast Asian steel demand to increase to 76.5 million tons in 2024, with an annual growth rate of 3.7%.
According to Mysteel data, the sample capacity utilization rate of 230 independent coke companies across the country was 72.70%, an increase of 0.74%; the daily output of coke was 531,900 tons, an increase of 5,500 tons, and the inventory dropped by 58,000 tons to 395,500 tons. The total inventory of coking coal increased by 139,300 tons to 7.6761 million tons. The number of days available coking coal increased by 0.08 days to 10.9 days.
The Ministry of Transport emphasized the need to concentrate on supporting projects such as cost reduction, quality improvement and efficiency improvement of transportation logistics, as well as the "Belt and Road" transportation infrastructure interconnection, and promote high-quality development of transportation through financial policy tools.
Li Yunze said that the State Administration of Financial Supervision will fully support Guizhou's high-quality development and modernization, paying special attention to real estate risks, local government debt resolution and the reform and insurance of small and medium-sized financial institutions, and promote the realization of common responsibilities, common answers, and joint efforts.
Comprehensive research and judgment show that in addition to local regional safety inspections, most of the coal mines in the producing areas are in normal production and the supply of coking coal is stable. After the increase in coke prices, the profits of coke companies began to shrink, coking coal purchasing behavior became cautious, and prices rebounded. Coke supply is stable, steel prices remain strong under the effect of favorable policies, raw material prices have been lowered, steel mills 'losses have improved, and operating rates have remained high. Firm demand for coke has been maintained, and demand for replenishment continues to exist. The market showed that after the dual-coke 2409 contract experienced a slight adjustment, the coking coal 2409 contract focused on the pressure level of 1890 yuan, and the coke 2409 contract focused on the pressure level of 2430 yuan.