SunSirs: China Coking Coal Market Operated weakly and steadily Last Week (May 5-9)

Last week, the coking coal market operated weakly and steadily. According to the monitoring system of SunSirs, as of May 9th, the price index of SunSirs's coking coal was 1,413.5 RMB/ton, a decrease of -0.88% from the beginning of the month.

Supply side: The shipping situation of most coal mines has improved, and some mining sites have eased inventory pressure, resulting in a relatively loose supply side.

Downstream: Demand from downstream terminal steel mills has improved, transaction volume has increased, iron production continues to increase, and the demand for coke remains strong. The price of steel billets is running weakly, with a slight decline in prices. Overall, the purchasing sentiment is not positive, and cautious observation is the main approach. More attention should be paid to downstream iron production and building material transactions.

According to analysts from SunSirs, the production of coking coal on the supply side is normal, downstream procurement is more cautious, and the production of molten iron has increased. The demand for raw material procurement is mainly due to necessity, which may support the stabilization of the coking coal market. Overall, the weak and stable operation of the coking coal market was the main focus last week, and we still need to pay attention to the supply and demand situation and the transaction of building materials in the future.

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