SunSirs: China Coking Coal Prices Remained Strong Last Week (December 4-11)
December 12 2023 09:56:11 SunSirs (Selena)
According to the Commodity Analysis System of SunSirs, coking coal prices remained strong last week. On December 4th, the price of coking coal was around 2,301.25 RMB/ton. On December 11th, the price of coking coal was 2,323.75 RMB/ton, an increase of 0.98%, a decrease of 5.79% compared to the same period last year. On December 10th, the energy index was 1,015 points, unchanged from yesterday, a decrease of 34.98% from the highest point in the cycle of 1,561 points (2021-10-21), and an increase of 98.63% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to 2011-12-01 present)
In terms of production areas, last week the domestic coking coal prices were relatively strong, and the overall increase in production coal mines was limited due to safety inspections. In terms of demand, online bidding has seen a mixed rise and fall in recent times, with some rising and others falling. The overall magnitude is not significant, with some auctions being unsuccessful. The tight supply has boosted the operation of the coking coal market. Downstream coke prices tend to be strong and optimistic, which provides favorable support for coking coal prices.
According to the coking coal analyst of SunSirs, the price of coking coal is strong and running. Currently, the supply of coking coal is tight, and downstream coking enterprises have relatively strong prices. Coke has favorable support for coking coal. Overall, the short-term price of coking coal may be mainly strong, depending on downstream market demand.
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