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SunSirs: Coking Coal Prices Rose First and Then Fell in June
June 30 2022 15:08:07SunSirs(John)

Price trend

According to the monitoring of SunSirs, the overall price of coking coal rose first and then fell in June. At the beginning of the month, the average market price of coking coal was about 2,855 RMB/ton, and at the end of the month, the average market price of coking coal was 2,838.33 RMB/ton, down 0.58%, and up 45.18% over the same period last year.

On June 29, the energy index was 1,202 points, up 2 points from previous day, down 23.00% from the highest point in the cycle (1,561 points on 2021-10-21), and up 135.23% from the lowest point of 511 points on March 01, 2016. (Note: The cycle refers to 2011-12-01 to the present)

Analysis review

According to the survey data of SunSirs, in terms of origin, coal mines mostly maintained normal production. Due to the impact of environmental inspections, the supply was still tight, but the downstream demand was general; The downstream coke market was running weak as a whole, and the profits of coking enterprises were damaged. The overall start of construction was low, there were many active production restrictions, and the overall mentality of coke enterprises was weak.

The demand for coke in downstream steel mills declined significantly, and the overall market was weak. However, considering that the demand for coke in steel mills was still there, if the coking company was raised or lowered again, it might increase production restrictions and affected coke output. Therefore, the second round of raising and lowering was temporarily suspended. But the overall market was weak.

Market outlook

According to coking coal analysts of SunSirs, coking coal prices have been continuously lowered, and they are still running weakly recently. The price of downstream coke has fallen recently, and the profits of coke companies have continued to shrink. They are more cautious about purchasing raw material coking coal. Overall, the price of coking coal may still be weak, depending on the downstream market demand.

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