Core Viewpoint - The coal and coke market is experiencing a slight downturn, with prices being adjusted downwards by steel mills after an initial price increase, indicating a cautious outlook for the industry [1][6]. Supply - As of May 15, the average daily production of coke from independent coking plants is 671,000 tons, with a week-on-week increase of 0.2%. The average daily production from 247 steel mills is 473,000 tons, remaining stable week-on-week, leading to a total production of 1,144,000 tons per day, also up by 0.2% week-on-week [3]. Demand - The average daily pig iron output from 247 steel mills is 2,447,700 tons, showing a week-on-week decrease of 8,700 tons. This translates to a coke demand of 1,161,000 tons per day, with a daily supply-demand gap decreasing by 4,100 tons week-on-week. Overall, there is a slight decline in weekly coke demand, indicating a high-level retreat in market demand [4]. Inventory - As of May 15, the total coke inventory stands at 10,395,000 tons, reflecting a week-on-week decrease of 97,000 tons. The inventory at independent coking enterprises is 943,000 tons, down by 1,000 tons week-on-week. The inventory at 247 steel mills is 6,638,000 tons, down by 72,000 tons, while port inventory is 2,814,000 tons, down by 23,000 tons week-on-week [5]. Profitability - As of May 15, the average profit per ton of coke nationwide is 7 yuan. The average profit for Shanxi's first-grade coke is 28 yuan, for Shandong's first-grade coke is 62 yuan, while Inner Mongolia's second-grade coke shows a loss of 46 yuan, and Hebei's first-grade coke has an average profit of 64 yuan [2]. Market Sentiment - Following the reduction of tariffs by China on the U.S. starting April 14, there has been a slight rebound in the black series commodities. However, after an initial price increase, major steel mills have reduced coke prices, with expectations for further adjustments. The market sentiment remains cautious, with limited expectations for significant increases in downstream replenishment demand [6].
焦炭：主流钢厂提降焦炭价格 焦煤弱势 焦炭价格再次进入降价阶段
Jin Tou Wang·2025-05-16 02:12