SunSirs: China Coking Coal Market is Running steadily after the Spring Frstival

This week, the coking coal market has been operating steadily. According to the monitoring system of SunSirs, as of February 6th, the price index of SunSirs's coking coal was 1,562.25 RMB/ton, unchanged from the beginning of the month.

On the supply side: After the holiday, most private coal mines have not resumed normal production and sales, and only a small number of state-owned coal mines have resumed production. Prices have not been adjusted much, and many pre holiday quotes are still being implemented, with a closed market status still in place. The inventory of coking coal in the port is almost the same as before, and the overall trading atmosphere is relatively quiet. We need to pay more attention to the resumption of coal mine work in the near future.

Downstream: With downstream steel mills resuming work and production, it is expected that the production of molten iron will steadily recover. However, downstream consumers mainly consume pre holiday inventory, with weak demand and low market trading sentiment, resulting in insufficient support for coking coal. The market tends to adopt a wait-and-see attitude, with a strong bearish sentiment in the future. Overall, the coking coal market prices have been operating steadily recently.

According to analysts from SunSirs, the supply side of coking coal is still in a closed state, with almost no difference in supply compared to before the year. The trading atmosphere is cold, and downstream demand is insufficient, mainly consuming pre holiday inventory. It is expected that the coking coal market will maintain a relatively stable operation in the later stage, and attention still needs to be paid to the supply and demand situation and building materials transactions in the future.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.