SunSirs: China Coking Coal Prices Increase Last Week (September 18-22)
September 25 2023 09:54:46 SunSirs (Selena)
According to the Commodity Analysis System of SunSirs, the price of coking coal increased last week. At the beginning of the week, the price of coking coal was 2,032.5 RMB/ton, while at the end of the week, the price of coking coal was around 2,217.5 RMB/ton, an increase of 9.1%, a decrease of 10.88% compared to the same period last year. On September 21st, the energy index stood at 1,046 points, an increase of 7 points from yesterday, a decrease of 32.99% from the highest point of 1,561 points in the cycle (2021-10-21), and an increase of 104.70% 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 origin, domestic coking coal prices rose over the weekend last week, and coal supply remained tight due to environmental inspections. The recent increase in supply is limited. The downstream coke market is relatively strong, with prices rising and coke prices rising. However, downstream steel mills currently have low profits and are resistant to raw material prices. However, the overall coke price has been relatively strong recently.
According to the coking coal analyst from SunSirs, the price of coking coal is improving, and the supply of coking coal is currently tight. Downstream coke has a restocking demand for coking coal due to the approaching double section. Overall, the short-term price of coking coal may be stronger, depending on the downstream market demand.
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