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SunSirs: China Coking Coal Prices were Weak Last Week (March 11-15)

March 19 2024 10:40:06     SunSirs (Selena)

According to the commodity analysis system of SunSirs, the price of coking coal was weak last week. At the beginning of the week, the price of coking coal was 2,312.5 yuan/ton, while at the end of the week, the price of coking coal was 2,287.5 yuan/ton, a decrease of 1.08%, a decrease of 6.95% compared to the same period last year. On March 14th, the energy index was 1,005 points, an increase of 1 point from yesterday, a decrease of 35.62% from the highest point in the cycle of 1,561 points (2021-10-21), and an increase of 96.67% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to 2011-12-01 present)

In terms of origin, last week the domestic coking coal prices were relatively weak, and coal mines gradually resumed production after the year. However, the current trading atmosphere is average. The coking coal market is operating weakly, with stable production and supply in the mining area in the near future. The coke market is operating weakly, and the coke market is operating weakly. After the implementation of the fifth round of price cuts, coke companies continue to increase their production restrictions, and last week, the comprehensive operating rate continued to decline. Although the recent decline in raw material coking coal prices has somewhat restored the profits of coking enterprises, most coking enterprises still suffer losses and have implemented significant production restrictions.

According to the coking coal analyst of SunSirs, the price of coking coal is weak, and downstream coking enterprises are cautious in purchasing and replenishing raw materials in an appropriate amount. Overall, the short-term price or weak operation of coking coal is mainly based on downstream market demand.


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