As we report on a forecast, produced Jiao province of Shanxi, Hebei coke Association recently in August have raised the price of coke guide. Association in August, Hebei coke coke guide price increases 150-200 yuan / ton, price adjustment after the two ex-factory price 1850 yuan coke / ton; a coke factory price 1900 yuan / ton; coal tar in August tentative guide price 2,300 yuan / tons of crude benzene guide price 3900 yuan / ton. Shanxi Coking Association in August coke guide price set at 1880 yuan / ton, compared with July of 1710 yuan / ton rose 170 yuan; the same time, will be limited to production ranged from 50% last month, down to 30%. Cf in June and July to see the price increase, this price increase than the market expected. We think it is mainly caused by two reasons, one is in August especially rebar steel prices rise, rapid rise in steel production led to the demand increase; and partly because the coal mine in Shanxi coking coal production increases caused by the short-term integration of hopelessness, making coking coal supply, prices showed a rising trend, recently there have been some areas 100-200 yuan / ton increases, which results in coke cost of doing business pressures. Demand-pull and cost push factors make the two-way coke price rises in August than in the past two months old.
In the steel industry, the expected economic recovery, the coke price rise is conducive to the schedule of coke corporate earnings improve, and we maintain the trend of investment in Coke shares as Overweight species continued to emerge from the performance flexibility, coal integrated, product extension and market Recommended cloud-dimensional identity perspective shares, Aetna Group, Shanxi Coking, the international industry such as coke categories listed companies.
In addition, since the release of hard coking coal production in the short term, we expect the demand-pull coking coal prices will rise, it is recommended holdings of metallurgical coal types, especially one coal company. Recommended concerned about the future capacity to dramatically increase the overall listing of Xishan Coal and Electricity and have the expected Guoyang New Energy. Xishan Coal and Electricity has invested 1 billion to participate notice Shougang 4.2 million tons / year of coke project, which can be put into production end of the year, according to current prices are expected to contribute to profits of nearly 2 million, so that Xishan Coal and Electricity coal industry, more complete. Guoyang New Energy reserves and undistributed profits of the earnings per share and up to 4 yuan, and the listed company as a whole to resolve related transaction is expected to clear, the company sent to the presence of high momentum transfer. |
