SunSirs: Downstream Demand Increases, China Coking Coal tends to be Stronger
July 28 2023 09:52:30 SunSirs (Selena)According to the Commodity Analysis System of SunSirs, the price of coking coal is on the rise. On July 25th, the energy index stood at 942 points, an increase of 5 points from yesterday, a decrease of 39.65% from the highest point of 1,561 points in the cycle (2021-10-21), and an increase of 84.34% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to the period from December 1st, 2011 to the present)
In terms of production location, the coal mine has been operating normally. Recently, the coking coal market has been relatively strong, and due to safety inspections, the coal mine has resumed production, which has alleviated the tight supply situation. The expectation of three rounds of landing in the downstream coke market is expected to strengthen, and in terms of demand, steel mills' profits have recovered to some extent this week. The operation of blast furnaces has been relatively stable, and there is a good enthusiasm for coke procurement. Downstream procurement enthusiasm has increased, with strong support for coke demand.
According to the coking coal analyst from SunSirs, the production of coking coal remains normal and the market trading atmosphere is acceptable. In terms of coke, the three rounds of upward expectations have strengthened, providing favorable support for coking coal. Downstream steel mills' profits have recovered, and the short-term price of coking coal may be slightly stronger, depending on downstream market demand.
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