SunSirs: The Price of Coking Coal is slightly Stronger Last Week (June 19-25)

https://www.chemnet.com   Jun 26,2023 SunSirs

　　According to the Commodity Analysis System of SunSirs, the price of coking coal is relatively strong. At the beginning of the week, the average market price was 1,712.5 RMB/ton, while on the weekend, the average market price was 1,770 RMB/ton, with a price increase of 3.36% and a decrease of 38.36% compared to the same period last year. On June 24th, the energy index stood at 887 points, unchanged from yesterday, a decrease of 43.18% from the cycle's highest point of 1,561 points (2021-10-21), and an increase of 73.58% 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)

　　In terms of production location, the coal mine has maintained normal operation and overall inventory pressure is not high. The coal mine's shipment situation is good. Some regions have reduced or ceased production of coal mines, and some regions have slightly tight supply. As steel prices rise, steel mills' profits recover, and the overall coke atmosphere improves in the downstream coke market. With the opening of the first round of price hikes by coking enterprises in Hebei, Shandong, and other regions, the range of domestic price hikes has once again expanded. This round of price hikes has increased by 50 RMB/ton for wet quenching and 60 RMB/ton for dry quenching. The overall supply of coke is stable. With the improvement of market atmosphere and the increase of traders' purchasing enthusiasm, the overall inventory of coke in the factory has declined, and most enterprises are currently operating at a low inventory level.

　　According to coking coal analysts from SunSirs, coking coal production has remained normal, with some regions experiencing coal mine production reductions or shutdowns, and some regions experiencing slightly tight supply. As downstream steel mills increase profits, their demand for coke may increase. Overall, the price of coking coal may tend to be stronger, depending on downstream market demand.

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