Newsletter summary
The main contract of coke futures fell 1% on May 10.Galagameszynga.41% to 2270 yuan, China Investment Anxin Futures expects coke to continue to vibrate and consolidate, while Dayue Futures believes that coke may be temporarily stable in the short term.
Text of news flash
[the main contract of coke futures fell more than 1% in intraday trading on May 10. The market has different views on the future market.] on May 10, the price of the main contract of coke futures fell sharply, reaching 2250.0 yuan at one point.GalagameszyngaThe low point. At the close, the contract was down 1.41 per cent at 2270.0 yuan. The market has different views on the future market of coke, and the following is a summary of the views of the main institutions: China Investment Anxin Futures pointed out that the spot coke rose to the fifth round, but the market mood remained depressed. Although the coke demand side has decreased due to the compression of steelmaking profits, hot metal production is still expected to increase slightly, and the demand for replenishment of steel mills is still there. On the supply side, coking profits have recovered, production continues to rise from low levels, basically matching demand, and production-side inventory continues to decrease. Although spot prices are expected to rise in the fifth round, futures prices fell under the influence of steel price sentiment and are expected to continue to shock consolidation. Dayue futures believes that the coke market may be temporarily stable in the short term. Recently, the profits of coke enterprises have been repaired, the start-up is good, and the supply of coke has increased. However, the shock of steel prices weakens the profit space of steel mills, the pace of coke procurement slows down, and there is a strong resistance to the rise of coke prices. Therefore, Dayue futures expect coke prices to remain stable in the short term. For coke 2409 contract, it is recommended to operate in the range of 2250-2300 yuan.
