January 29th News: On January 29th, the coke market in Qujing showed a weak trend. The current price for secondary coke is reported at 1,795 yuan/ton, while substandard grade coke is priced at 1,520 yuan/ton. Both prices are quoted on a dry basis, ex-factory, cash inclusive of tax.
Chempricehub Analysis of Coke:
Bull-Bear Score: -1
The article indicates that the coke market in Qujing is operating weakly, with secondary coke priced at 1,795 yuan/ton and substandard grade coke at 1,520 yuan/ton, both on a dry basis, ex-factory, cash inclusive of tax. This reflects a sluggish spot market, with insufficient demand or oversupply leading to downward pressure on prices, which constitutes a bearish factor for coke spot prices.
Combined with futures market data, the main coke futures contract, such as 2605, closed at 1,723 yuan/ton (up 30 yuan), indicating short-term support for futures prices. However, the weakness in the spot market may limit the upside potential for futures and increase the risk of future corrections.
Overall assessment: The weak price trend is a moderately bearish factor, with a score of -1.