News summary
Coking coal and coke futures rose late on Tuesday, with the coking coal 2409 contract up 3.5 percenthearthstonecrypto.04%, coke 2409 contract rose 3hearthstonecrypto.27%, the spot market was weak, the coke price drop basically came to fruition, the market sentiment was average, and the port coking coal spot market was mixed. It is assessed that the coke and coking coal markets are stabilizing and there is support on the demand side, but the recovery of raw material supply may limit the room for growth.
Newsletter text
Coking coal and coke futures markets are gaining momentum
On Tuesday night, both coking coal 2409 contract and coke 2409 contract saw significant gains. Coking coal 2409 contract closed up 52.5 yuan, an increase of 3.04%, to 1,778.5 yuanhearthstonecrypto; The coke 2409 contract followed closely, closing up 73.5 yuan, or 3.27%, at 2,323.5 yuan.
The port coke spot market fell slightly
At the same time, the port coke spot market showed a volatile and weak trend. Factory prices fell by 100-110 yuan/ton, and the sentiment in the domestic trade market was flat, and market resource quotations fell; in terms of foreign trade, demand was weak, and the overall quotation showed a downward trend.
The price of coking coal blending has been adjusted significantly
On the 21st, the price of coking coal blending in the Changzhi market was significantly lowered. Among them, the prices of lean coal (A10, S0.4, G2) and lean coal (A10, S0.4, G15) fell by 70 yuan/ton and 40 yuan/ton respectively to 1180 yuan/ton and 1310 yuan/ton.
The seaborne coking coal spot market fluctuates greatly
Coking coal in the port spot market was mixed on the 21st. The prices of some coal types increased by 10-30 yuan/ton due to limited saleable resources, while inventories were high.hearthstonecryptoFor coal types, the price is reduced by 10-30 yuan/ton in order to seek shipment.
Supply and demand relationship in coke market improves
The ex-warehouse price of quasi-first grade metallurgical coke in Rizhao Port dropped slightly to 1950 yuan/ton. With the impact of macro-favorable policies, the steel market transaction situation is promising, forming a strong support for coke demand. The profit situation of coke companies has improved, coke output has steadily rebounded, and the market remains optimistic about coke inventories.
Coking coal market supply gradually recovers
As molten iron output continues to grow, the demand side of the coking coal market has been strengthened. Shanxi Province emphasizes the steady production of coal, the gradual recovery of coking coal supply, the increase in the operating rate of coal washing plants, and the supply is expected to increase significantly. Coking coal inventories continue to increase, and the replenishment space is gradually narrowing. The market is cautious about the potential of subsequent replenishment.
Trading view: Coke and coking coal market is dominated by shocks
Based on the current market situation, investors are advised to maintain a volatile trading mentality in the coke and coking coal markets. The intraday reference range for coke index is 2280-2330-2380, while the reference range for coking coal index is 1760-1820.