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SunSirs: Coking Coal Operation is Weak This Week (6.7-6.11)
June 17 2021 11:02:03SunSirs(HU)

According to the monitoring of the SunSirs, the average market price at the beginning of the week was 1828.33 RMB/ton, and the average market price at the weekend was 1811.67 RMB/ton, down 0.91%, up 35.88% over the same period last year. Coking coal prices are weak this week.

On June 10, the coking coal commodity index was 133.70, down 1.23 points compared with yesterday, down 0.91% compared with the highest point in the cycle 134.93 points (2021-06-09), and up 197.71% compared with the lowest point 44.91 points on January 28, 2016. (Note: Period: 2012-09-01 to present)

According to the SunSirs, in terms of supply and production area, recent mine accidents have occurred frequently, environmental protection inspection has not been reduced, the overall supply of coking coal is still tight, and Mongolia's port clearance is low due to repeated epidemic situation.

Demand: the price of the coke market is mainly stable for the time being, coking enterprises are expected to limit production, but there is no impact at present, and the supply is expected to be tight in the future. In terms of steel plants, the current coke inventory is increasing. Affected by the expected tight supply of coke in the future market, the recent purchasing efforts are increasing, and the coke inventory in the plant has increased significantly compared with the previous period. At present, steel mills are increasing their procurement efforts. Supported by the high price of coking coal upstream of coke, the state of mind of coking enterprises has improved. It is expected that the price of Coke will still fluctuate weakly in the short term.

According to coking coal analysts of SunSirs, the overall coal supply is relatively tight due to the impact of environmental protection inspection. Affected by the epidemic, Mongolia has little traffic, and the coal source at ports is still tight. The coke inventory in downstream plants is rising. At present, the steel plant is increasing its procurement. With the support of the high coking coal price upstream, the mentality of coking enterprises is improving. It is expected that the coke price will still fluctuate weakly in the short term. Coke has a strong wait-and-see attitude towards coking coal. Generally speaking, the short-term coking coal mainly operates in a narrow range, and the specific situation depends on the downstream market demand.


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