arabicroulette| Baosteel Co., Ltd.: Coking coal supply increased, demand slowed down, and inventories increased by 567,000 tons month-on-month
editor 2024-05-24 13:39:23 Nature 22
News summary
The spot coking coal price increased to 1707 yuan, and the main coking coal contract dropped to 1786 yuan. Market inventories rose 56 per cent month-on-montharabicroulette.70,000 tons to 33.188 million tons. Steel inventories declined, but molten iron output decreased slightly, and market sentiment declined. It is expected that there will be limited room for growth in molten iron production in June, supply and demand will be basically balanced, and there is a possibility of a correction in double coke in the market.
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The latest data reveals coal market dynamics!
Spot prices in the coal market rose slightly, while the main coking coal contract price fell. Fenwei sample data shows that coal supply has increased month-on-month, while average daily molten iron output has dropped slightly.
In detail, the spot price of coal was raised by 40 yuan to 1707 yuan per ton; the main coking coal contract fell by 13.5 yuan, and the current price is 1786 yuan per ton.
From the supply side, Fenwei sample data shows that weekly supply increased by 6.07% month-on-month, reaching a total of 8.0013 million tons. Among them, raw coal output increased by 6.76% month-on-month to 5.722 million tons, while clean coal output decreased by 0.69% month-on-month to 2.2793 million tons.
On the demand side, the average daily output of coke this week remained stable at 1.135 million tons. The output of the full-sample coking plant increased slightly by 0.2% month-on-month to 665,000 tons, while the output of steel mills fell 0.2% month-on-month to 469,000 tons.
In terms of inventories, Mysteel data showed that total coking coal inventories increased by 567,000 tons month-on-month to 33.188 million tons. Inventories increased in all links, including mine inventories, coal washing plant inventories, coking plant inventories, steel mill inventories, and port and port inventories.
Market views show that the trend of steel removal continues, but hot metal output dropped slightly this week, and market sentiment weakened. Fundamentally, supply increased while demand decreased, and total inventories increased month-on-month.
Despite the recent decline in coking coal imports, domestic coking coal supply has increased month-on-month. The slowdown in the pace of production of steel mills led to a slight decline in average daily hot metal output.
Market analysis believes that there is still room for growth in molten iron output in June, while the five major materials continue to increase production and remove warehouses, and there is no expectation of oversupply. As the macro sentiment drops, bifocal may face correction pressure. It is recommended to focus on around 1900 in operation.arabicroulettepressure level.