Latest price of coal tar (5-8): 2700 yuan/ton

Analysis point: The price on May 8th decreased by 7.3% compared to the previous trading day. Affected by the decline in the price of raw coking coal, the cost of coking enterprises entering the furnace recently is low, and the starting situation is good. Although the starting rate has declined slightly compared with that before the festival, the overall operating rate remains above 75%. At present, the overall supply of coal tar is loose. The downstream deep processing industry continues to decline after the holiday, with a slight decline in operating rates. The demand for tar has weakened, and due to the decline in profits, there is a strong mentality towards holding down the price of raw material tar. This week, the mainstream price in Shanxi region is between 2550 to 2650 yuan/ton, a decrease of 300 to 400 yuan/ton compared to the previous auction price. The mainstream price in Shandong is 2850 yuan/ton, a decrease of 150 yuan/ton compared to the previous auction price.

Future forecast: Although the downstream performance is poor, there is still rigid demand, but it is difficult for coke companies to reduce their subsequent construction, and the overall supply of tar is relatively loose, leaving a bearish outlook. SunSirs predicts that the tar market will continue to operate weakly, with a focus on the trend of downstream industrial naphthalene, coal tar pitch and other commodities in the future.

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