WEEKLY: China steel mills’ coke stocks at 3-month low
May 29, 2020 18:00
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Coke stocks at the 110 Chinese steel mills under Mysteel’s regular survey decreased for a fourth straight week as of May 28, declining by another 20,200 tonnes on week to reach a three-month low of 4.63 million tonnes, chiefly because steel mills remain determined to observe normal production, survey respondents explained.
The existing stocks could sustain these steel mills’operations
for 14.47 days on average, or 0.11 day less than the prior week.
Despite the recent softening of domestic steel
prices, the margins domestic steel mills can enjoy on their finished steel were
still comparatively decent and finished steel stocks had been steadily
shrinking, thus encouraging steelmakers