SunSirs: China Coking Coal Market was Weak and Declined Last Week (January 6-10)

Last week, the coking coal market weakened and declined. According to the monitoring system of SunSirs, as of January 10th, the price index of SunSirs's coking coal was 1,609.75 RMB/ton, a decrease of -2.95% from the beginning of the month.

On the supply side: As the end of the year approaches, some coal mines have gradually completed their tasks and are experiencing production shutdowns. Resulting in a decrease in the supply of coking coal. The market sentiment of intermediate coal washing enterprises is relatively low.

Downstream: With the rise and fall of coke prices, market sentiment is low, and the overall auction price of coking coal is weak. Price pressure is on the decline, demand is weak, and on-demand procurement is the main focus. The market is in a wait-and-see attitude. The trading atmosphere for imported Mongolian coal is relatively cold, with average trading volume. Overall, downstream demand is insufficient, and the price of coking coal market continues to weaken.

According to analysts from SunSirs, the coking coal market is generally weak in operation. Downstream enterprises have weak demand and are cautious in procurement, replenishing inventory as needed. It is expected that the coking coal market will fluctuate weakly in the later stage, and the supply and demand situation and building materials transactions still need to be monitored in the future.

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