SunSirs: China Coking Coal Market Showed a Strong Trend Last Week (July 7-11)

Last week, the coking coal market showed a strong trend. According to the monitoring system of SunSirs, as of July 11th, the price index of SunSirs's coking coal was 1,241.25 RMB/ton, an increase of 2.06% from the beginning of the month.

On the supply side, the phenomenon of coal mines in Shanxi and Inner Mongolia shutting down and reducing production still exists. Overall, the resumption of coal mine production is relatively slow, and the tight supply of coking coal has not been significantly alleviated. It is expected that the coking coal market will mainly operate strongly in the near future.

On the demand side: Downstream raw material consumption is low, and demand has increased, so there is a moderate increase in inventory. With the rise in coking coal prices, the sentiment in the coke market is also relatively positive and optimistic. Inquiries in the port coke market are steadily increasing, and overall, downstream support for coking coal is strong. It is expected that the coking coal market will operate steadily with a moderate to strong trend in the near future.

According to analysts from Shengyishe Coking Coal, the current tight supply situation in the coking coal market has not been alleviated to a limited extent. Downstream market sentiment is good, and demand has increased, so it is necessary to increase inventory appropriately. It is expected that the coking coal market will remain stable with a moderate to strong trend in the short term, and more attention still needs to be paid to the supply and demand situation and the transaction of building materials.

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