In 2018, the economic performance of the coking industry reached its best level in recent years

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The economic performance of the coking industry in 2018 reached its best level in recent years. Author/Source: Date: 2019-03-08; Clicks: 7. Data published recently on the website of the Ministry of Industry and Information Technology show that in 2018, as supply-side structural reforms progressed, the coking industry experienced an upward trend in both volume and prices, showing stable development with improving conditions, and its economic performance was at its best in recent years. First, production has increased slightly. In 2018, driven by factors such as a recovery in demand from end-users, the capacity utilization rate in the coking industry increased. The total national coke production amounted to 438 million tons, a 0.8% increase on a year-on-year basis. Of this, 111 million tons was produced by integrated steel coking enterprises, representing a 0.4% increase, while 327 million tons was produced by other coking enterprises, with a 0.9% increase. Second, both export volume and price have increased. Since the beginning of this year, national exports of coke (including semi-coke) have shown fluctuating growth, while export prices have risen significantly. The total national export volume of coke was 9.75 million tons, a year-on-year increase of 20.8%; the export value was 19.49 billion yuan, up 33.3% on a year-on-year basis; the average export price was 1,999 yuan per ton, representing a year-on-year increase of 10.3%. Third, prices are fluctuating upward. In 2018, driven by the prices of coal and steel, coke prices fluctuated at high levels. The average price of coke with a particle size greater than 40 mm was 2,190 yuan per ton, representing a 13.4% increase on a year-on-year basis; the average price of coke with a particle size between 25 mm and 40 mm was 2,119 yuan per ton, with a 13.3% increase compared to the previous year. Fourth, the prices of coke by-products vary. In 2018, the production of coal tar was 18.06 million tons, a 1.5% decrease on a year-on-year basis; due to rising demand for coal tar pitch in downstream industries, the average price of coal tar was 3,261 yuan per ton, an increase of 22.6% compared to the previous year. The output of crude benzene was 4.88 million tons, a 0.6% decrease on a year-on-year basis; affected by the drop in international crude oil prices, the average price of crude benzene was 4,874 yuan per ton, a 5.1% decline compared to the previous year. Fifth, industry profitability has reached its best level in recent years. Since the beginning of this year, coke prices have remained high, leading to a significant improvement in the industry’s economic performance. Taking Shanxi Province as an example, the coking industry’s main business revenue amounted to 187.28 billion yuan, a year-on-year increase of 19.8%; its profits reached 17.75 billion yuan, with a year-on-year increase of 120.2%.