SunSirs: China Domestic Coking Coal Market Remained Stable with a Slight Upward Trend Last Week (November 3-7).

The domestic coking coal market remained stable with a slight upward trend last week. According to data from the SunSirs monitoring system, as of November 7, SunSirs coking coal price index was 1,613.75 RMB/ton, up 2.06% from the beginning of the month.

On the supply side: Last week, affected by safety supervision and environmental protection measures, some coal mines in Shanxi Province suspended production, resulting in a decline in output. Open-pit coal mines in Wuhai, Inner Mongolia, and other areas suspended production due to issues related to the management of mining subsidence areas, significantly reducing the number of coal mines in the region. Overall, the domestic supply situation remained tight. Low inventory levels further exacerbated the tight supply situation, thus providing favorable support for higher coking coal prices.

On the downstream side: The third round of price increases for downstream coke was implemented, which not only restored the profits of coking enterprises but also provided room for coking coal price increases, providing favorable support for coking coal market prices. Pig iron production remained high. Coking plants and steel mills actively replenished their winter stockpiles, further supporting the demand for coking coal. Overall, downstream demand is showing strong purchasing activity, and the coking coal market is expected to remain robust in the short term.

According to analysts at SunSirs, domestic coking coal spot inventory is tight, downstream market transactions are favorable, and given the continued tight supply and demand situation, the coking coal market is expected to trend upwards in the near future. Further attention should be paid to the supply and demand situation and the transaction volume of construction materials.

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