SunSirs: China Coking Coal Prices Rose Last Week (April 22-26)
April 28 2024 11:08:35 SunSirs (Selena)
According to the commodity analysis system of SunSirs, the price of coking coal increased last week. At the beginning of the week, the price of coking coal was 2,007.5 RMB/ton, while on the weekend, the price of coking coal was 2,037.5 RMB/ton, an increase of 1.49%, a decrease of 3.21% compared to the same period last year. On April 25th, the energy index was 988 points, a decrease of 1 point from yesterday, a decrease of 36.71% from the highest point in the cycle of 1561 points (2021-10-21), and an increase of 93.35% 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 rose, and the mining area started production relatively steadily with active shipments. The market trading atmosphere was good, and most coal mine pit prices rose. The coke market is on the rise, and this week the coke market proposed a third round of price increases, which have accumulated to around 300-330 RMB/ton. After the implementation of the increase, the profits of coke enterprises have been restored to a certain extent, and the current production enthusiasm has been improved.
According to the coking coal analyst from SunSirs, the price of coking coal increased last week, but the upward trend has slowed down. The downstream coking enterprise market has rebounded, and steel mill prices have also increased. Steel mill profits are still acceptable, and coking enterprises have a demand for coking coal. Overall, the short-term price of coking coal may be stable or slightly strong, depending on downstream market demand.
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