SunSirs: China Coking Coal Prices Remain Stable This Week (January 29- February 4)
February 06 2024 10:08:49 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, an increase of 1.36% compared to the same period last year. On February 3rd, the energy index was 1,022 points, unchanged from yesterday, a decrease of 34.53% from the highest point in the cycle of 1,561 points (2021-10-21), and an increase of 100.00% 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 have remained stable this week, and coal mines are facing holiday arrangements near the Spring Festival. It is expected that the supply side will be tightened in the later period. Due to safety accidents, safety inspections remain relatively severe. I thought that the recent extreme weather has hindered transportation power and resulted in average shipments. The coke market is operating steadily with a weak trend. As the Spring Festival approaches, steel coke enterprises are nearing the end of restocking, so they should purchase more according to demand and be cautious.
According to a coking coal analyst from SunSirs, coking coal prices are consolidating. As the Spring Festival approaches, downstream coking enterprises are purchasing cautiously, with weak supply and demand. Overall, the short-term price of coking coal may be mainly consolidating, depending on downstream market demand.
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