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Review of Coal and Coke Market during the Chinese Spring Festival

//en.ruistour.com [SteelHome] 2020-02-03 11:47:46

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Coke Market: Price of domestic coke industry maintained unchanged during the Chinese Spring Festival from January 24 to February 2. Due to the outbreak of novel coronavirus, which was first reported in Wuhan City, Hubei Province, truck transportation got stuck, and inventory of some coking plants in Shanxi Province increased.

Some coking enterprises in East China, North China and northeast China suspended production because of raw material shortage and transportation limitation Currently, the operating rate ranges from 50% to 70% A few coking plants in Shanxi Province issued that coke price will be raised by 100 yuan/t Some coking plants in Xuzhou City, Jiangsu Province already put up the price of coke by 100 yuan/t, to which steel mills didnt respond It is expected that coke market will maintain unchanged in the following week after the Festival and then turn weak from the middle of February

Coking Coal Market: Domestic coking coal market kept steady. Some local coal mines in Shanxi Province decided to postpone the day for resuming work. Production of coking coal decreased, and truck transportation was not so smooth. Some coal mines in Hebei Province resumed production, and the coking coal will be delivered by train to buyers on a long-term contracted basis.

In East China, some coal mines have returned to production, but inventory was slightly overpiled due to transportation limitation; while others havent gone back to work yet, and it is expected that they will resume production from February 10. In the short run, coking coal market will mainly be steady.

PCI Market: Domestic PCI market was mainly stable, except that price of PCI market in Hebei Province rose. Coal washeries in Handan City, Hebei Province didnt start to work yet, such that supplies of PCI was limited. Price of a few PCI surged resulting from a rise in freight charges. Price of PCI on a long term contracted basis in domestic large coal mines such as Henan Energy and Chemical Industry Group Co., Ltd, Shanxi Jincheng Anthracite Mining Group Co., Ltd, Shanxi Luan Group Co., Ltd, and Yangquan Coal Industry Group Co., Ltd maintained unchanged.

After the Festival, blast furnace operation rate will probably drop, and demand for PCI will decline. Supplies were tight in some local areas, and there will be fat chance of price hike in PCI market. It is expected that PCI market will mainly be steady while market in local areas will be robust.

Thermal Coal Market: Domestic thermal coal market kept steady. On February 1, the National Energy Administration issued a notice on coal supplies during the prevention and control of the epidemic, demanding that middle and long term contracts of coal and pricing mechanism should be strictly implemented to ensure the steadiness of coal market during the epidemic. It is expected that after the Festival, thermal price will be mainly steady with price in some place robust.


(To contact the reporter on this story: myron.liu@ruistour.com or 86-21-50582062)
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