Jiaoqi sharply raised prices to meet stable opportunities

Quotes: The main coke contract J1401 opened at 1486 on the 5th, rushing to 1493 in the morning, the highest intraday volatility, the final closing at 1488, 0.81% throughout the day. Volume decreased slightly from 13,000 to 494,000 hands, the lowest level in the past month. Positions increased by 10,000 to 267,000. From the top 20 main positions, short-term main holdings of 5000 hands empty singles, long main holdings of more than 4000 hands. Among them, Yongan, the first main force, continued to increase its holdings of more than 1,300 hands, and reduced its holdings by more than 400 contracts.

On the 5th, the coke continuous trading contract for the Bohai Sea Commodity Trading closed at 15:00 and closed at 1346, up 10 yuan/ton. The price rose for 5 consecutive trading days and there were clear signs of stabilization.

Spot Comments: The domestic coke market as a whole held steady, transactions in general, a slight price adjustment in some areas. The main delivery area offer: Taiyuan metallurgical coke offer 1200-1220 (+0) yuan / ton (car plate tax price), a quasi-level metallurgical offer 1100-1120 (+0) yuan / ton (tax ex-factory price) , Secondary metallurgical coke offer 1050 (+0) yuan / ton (tax ex-factory price); Tianjin Port, a metallurgical coke offer 1410-1430 (+0) yuan / ton (closing tax price included); Hebei Tangshan two Metallurgical coke quoted 1290-1300 (+10) yuan / ton (to the factory tax price).

Message surface: Recently, Shanxi Jiaoxie Association proposed that the major coking enterprises in the province raise the price of coke by RMB 30-50/ton in August. In addition, Pingmei Shenma Group has raised the price of coke in August at RMB 50/ton, which is an increase of 4%. This is the first time since the beginning of February this year, after the domestic coke prices continued to plummet for five consecutive months, the market has shown signs of rebounding for the first time.

Operational recommendations: Driven by the steel industry, in August it ushered in the opportunity of coke to stop falling and stabilize, breaking the unilateral fall pattern of the coke market, and gradually increasing the focus of futures prices. However, under the circumstances that the downstream demand of the steel market has not been significantly liberalized and the production capacity is still surplus, The trend of coke in the later period will still be repeated. The main fund will not diminish its willingness to go short on rallies, and pressure has not yet formed a rising joint force. It will continue to be suppressed in the near future. Pressure level 1500,1520, support position 1440.