SunSirs: China Coking Coal Prices temporarily Stabilized Last Week (January 15-22)
January 24 2024 10:13:20 SunSirs (Selena)
According to the commodity analysis system of SunSirs, the price of coking coal has remained stable this week. The price of coking coal from the beginning of the week to the weekend was 2,417.5 RMB/ton, a decrease of 0.31% compared to the same period last year. On January 21st, the energy index was 1,010 points, unchanged from yesterday, a decrease of 35.30% from the highest point in the cycle of 1,561 points (2021-10-21), and an increase of 97.65% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to 2011-12-01 present)
In terms of origin, domestic coking coal prices remained stable last week, and coal mines are facing holiday arrangements near the Spring Festival. It is expected that the supply side will tighten in the later stage, but due to safety accidents, safety inspections are still relatively severe. The market atmosphere in the coke market remained weak this week. With the implementation of two rounds of price cuts, coke companies are currently losing money, and there are more companies actively limiting production. The operating rate has slightly declined, and the weak and stable operation of the coke coal market has led to a generally weak mentality among coke companies. In terms of demand, the performance of the finished product market is weak, and steel mills are losing money by controlling the purchase of coke, resulting in less active entry into the market.
According to a coking coal analyst from SunSirs, the price of coking coal is currently stable, and the transaction volume of coking coal is average. Downstream coking enterprises have implemented price increases and decreases. Overall, the short-term price or consolidation of coking coal will be the main focus, depending on downstream market demand.
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