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SunSirs: China Coking Coal Market was temporarily stable last Week (June 8-12)
June 16 2020 09:15:31SunSirs(Selena)

According to the monitoring of SunSirs, the coking coal market is dominated by weak and stable operation. The average price of the North China market from the beginning of the week to the end of the week was about 1,333.33 RMB/ ton, down 17.78% from the same period last year.

On June 11, the coking coal commodity index was 98.40, the same as the previous day, down 19.03% from 121.53 (2019-03-12), the highest point in the cycle, and up 119.10% from 44.91, the lowest point on January 28, 2016. (Note: cycle refers to 2012-09-01 to now)

The inventory of large mines in Shanxi and other main production areas has decreased compared with the previous period, the sales and shipment situation has improved, the enthusiasm of coal washery for replenishing the warehouse is still relatively positive, the strength of large mines to go to the warehouse is obvious, but the pressure of going to the warehouse still exists in the short term; the recovery process of Heilongjiang coal mine is accelerated, and the output is increased.

Demand: the fifth round of price increase in the coke market was accepted by some steel mills on Friday. It is expected that in the near future, the reduction will be fully implemented. The overall demand for coke enterprises to start construction is high. The coking profit level in East China is basically 200-300 RMB/ ton. In addition to the limited production in some parts of Shanxi Province, the coke enterprises in other parts of China have a high operating rate and stable production. At present, most of the sales are to give priority to old customers. But at present, the inventory is relatively high, which gives coking coal unfavorable support. The price of coking coal is weak and stable temporarily.

According to the coking coal analysts of SunSirs, as of Friday, most of the regions have implemented the coke price increase, with the increase range of about 50-100 RMB/ ton. As a whole, the demand for coking coal downstream is relatively high, and the profit space given by coking is relatively high. However, the coal mine is currently facing the impact of high inventory backlog and imported coal price, and the coking coal price is temporarily stable. See the downstream market demand for details.


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