SunSirs: Coking Coal Prices Was Weak This Week (April 3-7)

https://www.chemnet.com   Apr 10,2023

　　Price trend

　　According to the Commodity Analysis System of SunSirs, coking coal prices were weak this week. At the beginning of the week, the average market price was 2,425 RMB/ton, while on the weekend, the average market price was 2,291.67 RMB/ton, a decrease of 5.5%, and a decrease of 22.45% compared to the same period last year.

　　On April 6th, the energy index stood at 1,058 points, a decrease of 11 points from the previous day, a decrease of 32.22% from the highest point of 1,561 points in the cycle (2021-10-21), and an increase of 107.05% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to the period from December 1st, 2011 to the present)

　　Analysis review

　　In terms of production area, the operating rate of coal mines remained stable, and the supply of coking coal was relatively stable. Downstream demand was sluggish, and domestic coking coal prices were mainly weak. The recent sales of downstream coke were weak, with some manufacturers experiencing a slight increase in inventory. In terms of demand, the profits of steel mills were slightly lower recently. Some steel mills had controlled the arrival of coke, overall procurement had slowed down, steel sales were poor, and steel mills' profits had slightly tightened. Overall, the bearish atmosphere in the market was relatively strong.

　　Market outlook

　　According to the coking coal analysts of SunSirs, the supply of coking coal was relatively stable, and the demand for coking coal in the downstream coke sector was average recently. The market sentiment was on the side of wait-and-see, and some mining areas had certain inventory pressure. The market price was mainly downward, and some online auctions were offline. Overall, the price of coking coal is mainly weak, depending on downstream market demand.

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