SunSirs: China Coking Coal Prices were Strong in November
December 04 2023 10:10:32 SunSirs (Selena)
According to the analysis system of SunSirs, the overall price of coking coal was relatively strong in November. At the beginning of the month, the average market price was around 2,257.5 RMB/ton, and at the end of the month, the average market price was 2,281.25 RMB/ton, with a price increase of 1.05% and a price decrease of 4.95% compared to the same period last year. On November 29th, the energy index was 1,014 points, an increase of 7 points from yesterday, a decrease of 35.04% from the highest point in the cycle of 1,561 points (2021-10-21), and an increase of 98.43% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to 2011-12-01 present)
According to the commodity market analysis system of SunSirs, the overall coking coal market rose in November, and in terms of supply, the mining area started production relatively low in the month. Due to comprehensive factors such as safety and environmental protection, the recent production has slightly declined, and the overall supply is tight. The downstream coke sector has seen two consecutive rounds of gains this month, with an optimistic attitude from the downstream, which provides favorable support for coking coal prices. The demand for high-quality coke is good, and currently the overall inventory in the mining area is low, with a positive market attitude.
According to a coking coal analyst from SunSirs, the supply of coking coal is limited due to environmental inspections, resulting in an increase in coking coal prices. On the demand side, due to the two consecutive rounds of increase in coke prices this month, the market sentiment is optimistic. Overall, the coke market is well supported, and coking coal prices may continue to improve, depending on downstream market demand.
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