SunSirs: China Coking Coal Market Trend Declined in March

The price of coking coal continued to decline in March and stabilized at the end of the month. According to the monitoring system of SunSirs, as of March 28th, the price index of SunSirs's coking coal was 1,408.5 RMB/ton, a decrease of -5.14% from the beginning of the month.

On the supply side: In early March, most coal mines had resumed normal production, and the supply side was relatively loose. At the end of March, the trading atmosphere in the market improved, with most coal mines experiencing better shipping conditions and some mines easing inventory pressure. It is expected that the focus of transactions in April will shift upwards.

Downstream: In mid to early March, the demand from downstream terminal steel mills was weak, and the market transaction atmosphere was not positive. By the end of the month, the demand from terminal steel mills had improved, and transactions had increased. The production of molten iron continued to increase, and the demand for coke had rebounded. Some coke enterprises were still in a destocking state. Overall, the coking coal market has improved and prices are expected to rebound.

According to analysts from SunSirs, the production of coking coal on the supply side is normal, and downstream demand for resumption of work and production has improved. It is expected that the coking coal market will recover in the later stage, and attention still needs to be paid to the supply and demand situation and building material transactions in the future.

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