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Feb.19.2020 1USD=7.0012RMB
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SteelHome Briefing (Feb.14, 2020): Coke and Coal

http://en.steelhome.cn [SteelHome] 2020-02-14 10:11:01

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Key Points: Price of metallurgical coke was stable this week while that of domestic coking coal, PCI and thermal coal rose amid stability. Most coking plants intensified production limitation and blast furnace operating rate dropped.

Coke: From Monday to Thursday this week, price of domestic coke finalized at transactions was stable. Since the question of when the epidemic will be put an end is unsettled, most coking plants and steel mills have no intention of price adjustment. A few of them believe the market will be steady in the future based on the current situation while a minority are bearish on the market in March. It is expected that domestic coke market will keep unchanged in the short run.

Coking Coal: From Monday to Thursday this week, price of domestic coking coal rose amid stability. Some coal mines havent resumed production yet. The rate of work resumption at coal mines producing low sulphur coke in Anze, Shanxi province was low after the Chinese Spring Festival holiday. Some coal mines will sell supplies recently with an intention of putting up the price by 100 yuan/t or so. Price of a few clean coal with a high moisture content rose by 70 yuan/t.

Ports at Mongolia were closed. In Northern ports, transactions of imported coking coal were sound with available supplies at ports plunging dramatically. Australian I grade coking coal rose by 30-50 yuan/t. It is expected that in the short term, price of coking coal will be rise amid stability.

PCI: From Monday to Thursday this week, price of domestic PCI rose amid stability. Price of PCI quoted by local coal mines in Changzhi, Shanxi province rose by 20-30 yuan/t in recent days. Currently, truck transportation was limited, but steel mills procurement (delivered by train) was not affected. It is expected that price of PCI will be robust amid stability.

Thermal Coal: Domestic thermal coal rose amid stability. Coal mines are resuming production one after another, but some are still waiting for the notice of work resumption. It is expected that thermal coal market will be robust amid stability in the future.

Hot Issues: According to the latest statistics released by China National Coal Association, most coal mines subordinate to Shaanxi province have already resumed production by February 10. And 51 coal mines in China have already resumed production with 0.7574 million tons of daily production volume. Further, 70 coal enterprises in Shanxi province are in the normal operation.

Comments: Coal mines at some place are still waiting for the notice of work resumption, and some already resuming production havent completely recovered.

Trading Tips: The large number of steel mills having steel materials at a high level renders the bearishness on the steel market in the future. As some steel mills postponed the day for blast furnace maintenance because of the epidemic, unfavorable to coke market, it is suggested that steel mills and traders should be cautious in procurement and coking plants arrange production reasonably.

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