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SunSirs: China Coking Coal Prices were Weak Last Week (April 7-12)
April 16 2024 11:02:35SunSirs(Selena)

According to the commodity analysis system of SunSirs, the price of coking coal was weak last week. At the beginning of the week, the price of coking coal was 2,087.5 RMB/ton, while on the weekend, the price of coking coal was 1,987.5 RMB/ton, a decrease of 4.79%, a decrease of 12.64% compared to the same period last year. On April 11th, the energy index was 968 points, an increase of 2 points from yesterday, a decrease of 37.99% from the highest point in the cycle of 1,561 points (2021-10-21), and an increase of 89.43% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to 2011-12-01 present)

In terms of origin, domestic coking coal prices were weak last week, with slow recovery of regional supply and limited overall increase in coking coal supply. As the sentiment in the coke market continues to weaken, most companies are still in a wait-and-see state. The coke market is operating weakly, and after the implementation of the eighth round of price cuts, the mentality of coke companies is weak. In terms of supply, the production restriction efforts of coke enterprises are still relatively high, and the operating rate of coking enterprises is relatively low, currently around 65%. Most coke enterprises still suffer losses, and the production restriction efforts are still significant. Affected by the weak market atmosphere, coke enterprises have low expectations of increasing production in the short term and will continue to maintain a low operating rate in the near future.

According to a coking coal analyst from SunSirs, coking coal prices are operating weakly, and downstream coking enterprises are cautious in purchasing and replenishing their inventory of raw materials in an appropriate amount. However, with the decline in coke prices, the profitability of steel mills has improved, and the prices of certain types of coking coal have stopped falling. Overall, the short-term price of coking coal may fluctuate, depending on downstream market demand.


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