January 5th News: On January 5th, the coke market in Changzhi showed a weak trend. Currently, the price for standard-grade dry-quenched coke is 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 ex-factory prices including tax and cash payment.
Chempricehub Analysis of Coke, Bull-Bear Score: -1
The report indicates that the coke market in Changzhi is operating weakly, with standard-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. These prices are all below recent market levels, suggesting an oversupply of spot coke or weak downstream demand, which exerts 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), which fell by 16.5 yuan compared to the previous day, and a decrease in the open interest of the main contract, it indicates that the futures market is also in a downward trend. The weakness in spot prices may further transmit to the futures market, reinforcing bearish sentiment. Therefore, a generally bearish score is assigned.
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