Metallurgical Coke Market Outlook


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Metallurgical Coke Market Outlook

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CRU's Metallurgical Coke Market Outlook, published 19th August, reports on the continued display of volatility in the coke market as sentiment, driven by Chinese finished steel performance, continues to override market pragmatism. Consultant Alistair Hudson-Kirkham writes "Chinese crude steel production will ease in the later stages of 2016, as sentiment simmers down, this will bring coke prices down with it."

The essential resource for the Metallurgical Coke Market Outlook

Since lows during the global financial crisis, metallurgical coke prices have been on a rollercoaster ride.  A spectacular recovery was seen immediately after in 2010 and 2011, and thereafter prices entered a continuous decline for around 18 months between mid-2011 and end-2012.  Rises came on the back of soaring prices for coking coal and a significant tightening in the merchant coke supply/demand balance as global hot metal production returned to record highs.  However, more recently, China's appetite for coke has deteriorated significantly.

At the opening of 2013, the 40% tax on metallurgical coke exports from China was removed, opening the door for supply from here to enter the already oversaturated market.  Since then, we have witnessed an increase in the Chinese export volume, exacerbating oversupply and displacing market share in international markets, thus pressuring prices further.

 

Metallurgical Coke Market Outlook

In this light, CRU produces the latest edition of our Metallurgical Coke Market Outlook.  Via our examination of all major regions and countries worldwide and our forecasts - which are annual for each year to 2019 - our service answers the main questions facing the market in the coming years:

  • How are low coal prices translating through to the coke market? 
  • What impact will the removal of the Chinese export tax have on international coke prices in the years ahead? 
  • What will be the effect on the market of increasing PCI rates? 
  • Which regions will provide new supply in the coming years? 
  • How will demand in China, India and other markets evolve?

Why CRU for Metallurgical Coke?

  • A truly global understanding of the metallurgical coke markets, built upon more than 30 years' experience covering the worldwide steel industry
  • Our metallurgical coke coverage is enhanced by CRU's detailed understanding and research across the entire steel value chain, across all raw materials through to all finished products.  This makes our research far more robust than competitors who look at the metallurgical coke industry only in isolation
  • CRU's offices in Beijing and Mumbai provide first-hand presence in the Chinese and Indian markets, and allows us to build personal relationships with the major market participants.  Therefore, we can provide a great deal of first-hand data and strengthen our understanding of the local markets and the global industry

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