Infographics: China’s coke price ebbs from a 12-y climax
On February 23, the coke price dropped Yuan 32.2/t on day to Yuan 2,680.1/t including the 13% VAT, as the top-tier steel plants in North and East China announced on Monday to cut their coke procurement prices by Yuan 100/t, citing their thinning steel margins in the context of high raw materials costs with coke in particular.
Besides, coke stocks at China’s coking plants have increased obviously after the Chinese New Year (CNY) holiday over February 11-17 in China partly due to the slow-down in logistics, and some of the Chinese coke producers, thus, have agreed to compromise on prices to promote sales.
On February 18, total coke stocks at the 230 Chinese independent coking plants under Mysteel’s survey swelled 118% fortnightly to 843,900 tonnes, or touching a six-month high, which was in sharp contrast to the stocks two weeks ago that had hit a new low since Mysteel’s commencement of the survey late 2017.
Market sources, however, are uncertain where the coke prices will be heading in the near term, though, as China’s major steel prices including rebar and hot-rolled coils have all been strengthening so far since the country is back from the CNY holiday on February 18.
Source: Mysteel data
Written by Sean Xie, xiepy@mysteel.com
Edited by Hongmei Li, li.hongmei@mysteel.com
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