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SunSirs: Coking Coal Prices Was Weak This Week (April 10-17)
April 18 2023 10:12:14SunSirs(John)

Price trend

According to the Commodity Analysis System of SunSirs coking coal prices have been weak this week. At the beginning of the week, the average market price was 2,291.67 RMB/ton, while on the weekend, the average market price was 2,241.67 RMB/ton, a decrease of 2.8%, and a decrease of 28.65% compared to the same period last year.

On April 16th, the energy index stood at 1,048 points, unchanged from the previous day, a decrease of 32.86% from the cycle's highest point of 1,561 points (2021-10-21), and an increase of 105.09% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to the period from December 1st, 2011 to the present)

Analysis review

In terms of production areas, coal mine operations maintained a normal level, but the market was pessimistic and mostly in a wait-and-see state. Downstream demand is sluggish, and domestic coking coal prices were mainly weak. The downstream coke market was still operating weakly, the second round of price reductions within the week had been implemented, with a cumulative reduction of 100-200 RMB/ton. After two rounds of price reductions, the market atmosphere remained slightly weak. The release of demand was slow, and most coking coal was purchased on demand.

Market outlook

From the perspective of coking coal analysts of SunSirs, coking coal had maintained normal production, and the demand for coking coal in the downstream coke sector was average recently. The market sentiment was on the sidelines, and the demand was relatively low. The market price was mainly downward. Overall, the price of coking coal is mainly weak, depending on downstream market demand.

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