SunSirs: China Coking Coal Price was Weak Last Week (August 1-5)

https://www.chemnet.com   Aug 08,2022 SunSirs

　　According to the monitoring of SunSirs, the coking coal price was weak last week. At the beginning of the week, the average market price was 2,388.33 RMB/ ton, and at the end of the week, the average market price was about 2,321.67 RMB/ ton, down 2.79% and up 4.74% over the same period last year. On August 4, the energy index was 1,077 points, down 3 points from the previous day, down 31.01% from the highest point of 1,561 points in the cycle (October 21, 2021), and up 110.76% from the lowest point of 511 points on March 1, 2016. (Note: the period refers to December 1, 2011 to now)

　　In terms of origin, coking coal prices were generally weak. In terms of origin, it was difficult for coal mines to ship, the price of some coking coal continueed to fall. In terms of downstream coke, most of the coking coal was purchased on demand. There was in a strong wait-and-see mood, and the price of coking coal was still under pressure.

　　In the view of SunSirs coking coal analysts, the coking coal price is temporarily stable and weak in the near future. Some coke enterprises in the downstream have the expectation of resuming production. How good the market situation is in the near future, and their willingness to purchase coking coal has been improved. From a comprehensive perspective, the coking coal price in China may be adjusted and operated in a stable manner, and from a specific perspective, the downstream market demand.

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