Recent Market Dynamics Intelligence for Coke Fines in Commodity Markets

I. Price Dynamics
1. Changzhi Market:
- On May 21, coke fines prices in the Changzhi market remained stable: specification 0–5 mm, fixed carbon (FC) > 84%, ash (A) 80%, S 84%, A = 13%, S 85%, A 82%, A < 14%, S < 0.9%, MT = 0%, ex-factory cash price including tax: RMB 1,100/ton.

3. Port and Export Markets:
- On April 30, spot price of coke fines at domestic ports stood at RMB 1,020/ton, remaining stable.
- On April 30, FOB export price for 0–10 mm coke fines was USD 152/ton, remaining stable.

II. Supply-Demand Landscape
1. Supply Situation:
- Coke fines supply primarily depends on coal resources. Coal supply has been relatively stable recently; however, tightening environmental policies have imposed production constraints on some coking enterprises.
- Coking plant operating rates remain high, yet capacity utilization is somewhat limited due to environmental inspections and related regulatory enforcement.

2. Demand Situation:
- As a critical raw material for the iron & steel and chemical industries, demand for coke fines continues to grow steadily.
- Steel sector demand for coke fines is closely linked to hot metal output; recent hot metal production remains at high levels, providing solid support for coke fines demand.
- Chemical industry demand for coke fines also remains stable; certain chemical products require coke fines of higher quality specifications.

III. Key Market Influencing Factors
1. Raw Material Prices:
- Coal—the primary raw material for coke fines—exerts significant influence on coke fines production costs. Coal prices have remained relatively stable recently, providing clear cost support for coke fines.

2. Environmental Policies:
- Environmental regulations increasingly impact coke fines producers; some enterprises face output restrictions or shutdowns due to non-compliance with environmental standards, thereby affecting market supply.
- Stricter environmental policies also drive coke fines producers to increase investment in environmental protection and enhance eco-efficiency throughout the production process.

3. International Trade Environment:
- The global trade environment influences the coke fines export market. Export markets have remained stable recently; however, potential risks—including international trade frictions—warrant ongoing attention.

IV. Analysis and Assessment
1. Price Trend:
- Coke fines prices have exhibited minimal fluctuation recently, maintaining an overall stable operational trend.
- In the near term, coke fines prices are expected to remain stable; however, close monitoring is advised for potential impacts stemming from coal price volatility and adjustments to environmental policy.

2. Supply-Demand Relationship:
- The coke fines market maintains a relatively balanced supply-demand relationship. Supply-side constraints arising from environmental policies remain limited, while demand continues steady growth.
- The supply-demand balance is expected to persist over the short term.

V. Outlook
1. Price Forecast:
- Over the next month, coke fines prices are projected to remain stable; nevertheless, vigilance is required regarding possible impacts from significant fluctuations in coal prices or further tightening of environmental regulations, which could trigger corresponding price adjustments.

2. Supply-Demand Forecast:
- Over the next month, the coke fines market is expected to sustain its balanced supply-demand condition, with both supply and demand continuing stable growth.
- Coking enterprises should closely monitor shifts in market demand and adjust production plans accordingly to ensure stable market supply.