SunSirs: China Coking Coal Prices were Weak Last Week (March 18-22)
March 26 2024 11:03:44 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 2,250 RMB/ton, while on the weekend, the price of coking coal was 2,162.5 RMB/ton, a decrease of 3.89%, a decrease of 12.03% compared to the same period last year. On March 21st, the energy index was 990 points, a decrease of 10 points from yesterday, a decrease of 36.58% from the highest point in the cycle of 1,561 points (2021-10-21), and an increase of 93.74% 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 in mining areas in the near future in terms of supply. The coke market is operating weakly, and after the implementation of the sixth round of price reduction, the supply side has continued to increase the production restriction efforts of coke enterprises. The comprehensive operating rate of coking enterprises continues to decline, currently around 65%. Although the recent decline in raw material coking coal prices has somewhat restored the profits of coking enterprises, most coking enterprises still suffer losses.
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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