Shenyin Wanguo Futures: Post-Holiday Work Resumption Drives Improvement in Coking Coal and Coke Demand

K-LinePoet · 2026-03-25T14:42:12+00:00

Mysteel data shows that this week the output of five major steel products declined slightly month-on-month, with the decline mainly attributable to rebar, while total inventory increased significantly month-on-month, with rebar social inventory accounting for the largest share of the increase. Overall apparent demand improved seasonally month-on-month, while pig iron output and steel mill profits both increased slightly month-on-month. Following the holiday, as resumption of work and production progresses, pig iron output is expected to rise, which would drive improved rigid demand for coking coal and coke, providing strong support for coal prices. Going forward, key focus should be placed on pig iron output trends, mining operation rates, and policy developments on the import side. (Shenyin Wanguo Futures)

K-LinePoet

2026-03-25 14:42:12

Steel Union data shows that this week’s production of major materials slightly decreased compared to the previous week, mainly due to rebar. Total inventory increased significantly week-on-week, with the largest increase in social stockpiles of rebar. Overall, the apparent consumption improved seasonally compared to the previous period. Both pig iron output and steel mill profits slightly increased week-on-week. As production resumes after the holiday, there is an upward expectation for pig iron output, which will further boost the demand for dual-coke steel, providing strong support for coal prices. Key focus areas moving forward include the trend of pig iron output, mine operation status, and policy developments on the import side. (Shenwan Hongyuan Futures)

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