SunSirs: Near the Spring Festival, China Coking Coal Market is Stable but slightly Weak

This week, the coking coal market has been operating steadily with a slight weakness. According to the monitoring system of SunSirs, as of January 21st, the price index of SunSirs's coking coal was 1,562.25 RMB/ton, a decrease of -2.95% from the beginning of the month.

On the supply side: As the Spring Festival approaches, some coal mines have completed their tasks one after another and are gradually experiencing production shutdowns. Resulting in a decrease in the supply of coking coal. But currently, most coal types are still in surplus, and overall the market is weak.

Downstream: With the implementation of the seventh round of coke price increase and decrease, market sentiment is low and there is insufficient support for coking coal. Downstream procurement is mainly based on demand, and the market tends to have a wait-and-see attitude, with a strong bearish sentiment in the future and 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 continue to operate weakly in the later stage, and attention should still be paid to the supply and demand situation and building materials transactions in the future.

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