SunSirs: Coking Coal Prices Temporarily Stabilized This Week (March 20-24)

https://www.chemnet.com   Mar 28,2023 SunSirs

According to the monitoring of SunSirs, coking coal prices had temporarily stabilized this week. The average market price from the beginning of the week to the end of the week was 2,458.33 RMB/ton, a decrease of 20.05% compared to the same period last year.

The energy index stood at 1,071 points on March 23, a decrease of 1 point compared to the previous day, a decrease of 31.39% compared to the highest point of 1,561 points in the cycle (2021-10-21), and an increase of 109.59% compared to the lowest point of 511 points on March 1, 2016. (Note: The cycle refers to 2011-12-01 to now)

Analysis review

In terms of production area, the coal mine had started to maintain stability, and the supply of coking coal was relatively stable. Domestic coking coal prices were mainly consolidated. In terms of downstream coke, recent procurement enthusiasm had been general, coke companies still focused on digesting early stage inventory, and still purchased coking coal on demand. There was strong wait-and-see sentiment in the market.

Market outlook

According to the coking coal analyst from SunSirs, the supply of coking coal was relatively stable, and the downstream coke maintained purchasing coking coal just in demand recently. Coking steel companies started steadily, and the downstream support for coking coal prices was general. From a comprehensive perspective, coking coal prices will be mainly subject to consolidation, depending on downstream market demand.

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