On January 5, the coke market in Changzhi exhibited a weak trend. Current quotations for quasi-first-grade dry-quenched coke stand at 1,485–1,535 yuan/ton, first-grade wet-quenched coke at 1,400 yuan/ton, and first-grade dry-quenched coke at 1,645–1,695 yuan/ton, all ex-factory prices inclusive of tax and cash payment. PriceSeek analysis of coke: Bull-bear score: -1. The report indicates that coke prices in the Changzhi market are operating weakly, with quasi-first-grade dry-quenched coke quoted at 1,485–1,535 yuan/ton, first-grade wet-quenched coke at 1,400 yuan/ton, and first-grade dry-quenched coke at 1,645–1,695 yuan/ton, all below recent market levels. This suggests an oversupply of spot coke or weak downstream demand, exerting downward pressure on spot prices. Combined with coke futures data, such as the closing price of the 2605 contract at 1,693 yuan/ton (settlement price 1,698 yuan/ton), down 16.5 yuan from the previous day, and a decrease in open interest for the main contract, the futures market is also in a downtrend. Weak spot prices may further transmit to the futures market, reinforcing bearish sentiment, thus warranting a generally bearish score.
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