SunSirs: China Coking Coal Price was Consolidated Last Week (June 1-11)

https://www.chemnet.com   Jun 11,2024 SunSirs

According to the Commodity Analysis System of SunSirs, the price of coking coal has been consolidating this week. The price of coking coal from the beginning of last week to the weekend was 2,062.5 RMB/ton, an increase of 21.2% compared to the same period last year. On June 6th, the energy index was 986 points, a decrease of 1 point from yesterday, a decrease of 36.84% from the highest point in the cycle of 1,561 points (2021-10-21), and an increase of 92.95% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to 2011-12-01 present)

In terms of origin, the coking coal market was consolidating last week, while coal mines have recently maintained normal operations in terms of supply. The double coke market has declined, and downstream procurement has been cautious. The recent auction performance has been poor, with many unsold auctions and some coal prices falling, resulting in a weak market sentiment. Last week, the coke market temporarily remained stable, and there has been little change in supply for coke enterprises. The supply of coke is relatively stable, and enterprises are actively exporting. The recent slight drop in coke coal prices has weakened the mentality of coke enterprises. In terms of demand, the downstream steel market has entered a low consumption season, putting pressure on the steel market and being cautious in purchasing coke.

According to the coking coal analyst from SunSirs, coking coal prices remained stable last week, while downstream coking enterprise markets have been operating steadily recently. The steel market is under pressure, and the procurement of coke is cautious. The demand for coking coal is average, and the supply-demand game mainly focuses on short-term coking coal prices or under pressure, with a specific focus on downstream market demand.

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