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Since the beginning of this year, despite the impact of the epidemic, the coking industry has maintained a good level of profitability
.
Taking Shanxi coking companies as an example, the gross profit margin of coke sales of most companies averaged 16% from January to August, which was 2 percentage points higher than the same period last year.
"Capacity reduction will continue to be the main keynote for the development of the coking industry
.
It is expected that the short-term coke supply shortage will continue and prices are expected to remain high.
Increasingly tight supply and demand
Increasingly tight supply and demandAccording to Gao Xinqi, the steel industry is the main downstream area of coke
.
Since the second quarter of this year, under the government's policy of increasing infrastructure construction to promote consumption growth, the production of downstream steel infrastructure, real estate, automobiles, household appliances and other industries has recovered rapidly, which has also driven the continuous growth of steel production
While steel production continued to grow and the demand for raw materials increased significantly, coke production declined
.
Data from the National Bureau of Statistics show that in June and July, the national coke production fell by 4.
In addition, the production of coke in the main production and demand provinces of Hebei, Jiangsu, Shandong, and Henan all experienced significant declines
.
From January to June, the cumulative annual coke output of the above four provinces decreased by approximately 24.
In the case that production cannot meet demand, coke inventories have also begun to tighten
.
At the end of July, the coke inventory of Tianjin Port, Rizhao Port, Qingdao Port and Lianyungang Port fell to 2.
Raw material prices fall
Raw material prices fall Since the beginning of this year, rectification and new coal mines have successively entered the production period, coal production capacity has begun to be released, and the supply of coking coal for coking raw materials has increased significantly
.
At the same time, the demand for the international coking coal market has been significantly reduced due to the impact of the epidemic, increasing sales to the Chinese market, resulting in a decline in domestic coking coal prices
Coking coal prices continue to fall, while coke prices are rising
.
Take Tangshan market first-class metallurgical coke as an example.
"Under the general environment where coke prices remain high and the prices of raw coking coal continue to fall, the overall profits of the coking industry have maintained a relatively high level
.
" Gao Xinqi said
.
Strong market operation
Strong market operation For the later trend of coke, Gao Xinqi said that capacity reduction is still the main keynote of the coking industry in the fourth quarter of this year and next year
.
In addition, the growth of coking output will also be restricted by environmental protection, regional and transportation
.
In terms of demand, under the central government's "six stability" policy, the domestic economy has gradually recovered, and steel production is still on the rise, and the demand for coke will also increase accordingly
.
On the whole, it is difficult to alleviate the tight supply and demand of coke, the market will continue to operate strongly, and the high profitability of the coking industry can still be expected
.
"In the long run, the government will set a higher pollutant emission reduction target in the '14th Five-Year Plan', and the currently restricted 4.
3-meter coke oven has a capacity of more than 200 million tons across the country, and there are also a large number of small coking plants.
As local governments step up their efforts to advance the supply-side structural reforms of the coking industry, a large number of coking companies will face difficulties in restructuring and upgrading due to backward production capacity, small scale, unreasonable regional layout, and insufficient capital, technology, management, and service capabilities.
The pressure to survive will also increase, and the coking industry may usher in a full integration opportunity
.
" Gao Xinqi said
.
At the same time, with the deepening of the supply-side structural reform, the overall technology, equipment and environmental protection level of the coking industry will be greatly improved, the industry concentration will also be greatly increased, and the market operation will be more stable and healthy
.
It is understood that a group of companies with high technology, management, and environmental protection levels in the coking industry are taking advantage of the trend and actively carrying out mergers and integration to increase market share
.
Take the Risun Group as an example.
Since its listing in 2019, the group has merged and managed 4 coking companies in just one year
.
