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SunSirs: The Coking Coal Price in January Was Weak
February 06 2023 14:42:56SunSirs(John)

Price trend

According to the monitoring of SunSirs, coking coal prices fell in January as a whole. At the beginning of the month, the average market price was about 2,551 RMB/ton, and at the end of the month, the average market price was 2,401.67 RMB/ton, the price fell 5.88%, and the price fell 9.88% compared with the same period last year.

The energy index stood at 1,116 points on January 31, up 1 point from the previous day, down 28.51% from the highest point of 1,561 points in the cycle (2021-10-21), and up 118.40% from the lowest point of 511 points on March 1, 2016. (Note: the period refers to 2011-12-01 to now)

Analysis review

According to the survey data of SunSirs, the overall coking coal market declined this month. At the beginning of the month, safety was the priority, and the output was reduced. Downstream replenishment before the Spring Festival, the coal mine inventory decreased, and the quotations mostly fluctuated slightly. In terms of downstream coke, in January 2023, the coke market was reduced in two rounds. As of the 31st, the price of quasi-class metallurgical coke in Shanxi was 2,482 RMB/ton, and the price at the beginning of the month was 2,682 RMB/ton, with a monthly decrease of 7.46%.In January, the coke market experienced two rounds of increase and decrease, with a cumulative decrease of 200-220 RMB/ton. The steel plant started the first round of lifting and lowering, and some coke enterprises started the third round of lifting and lowering. In the future, the coke price is expected to remain stable under the game mentality of coking and steel.

Market outlook

According to the coking coal analyst of SunSirs, since the Spring Festival has just passed, the demand has not yet recovered. In terms of downstream coke, the steel mills have mainly purchased coke on demand recently. The enthusiasm of coke for coking coal procurement is general, and the market turnover is general. In general, coking coal prices are still dominated by consolidation, depending on the downstream market demand.

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