SunSirs: Overall Decline in China Coking Coal Prices in July

https://www.chemnet.com   Jul 31,2024 SunSirs

According to the analysis system of SunSirs, the overall price of coking coal decreased in July. At the beginning of the month, the average market price was around 2,057.5 RMB/ton, and at the end of the month, the average market price was 2,019.75 RMB/ton, a decrease of 1.83% in price.

According to the Commodity Market Analysis System of SunSirs, the coking coal market experienced an overall decline in July. As of July 30th, the construction in the mining area has slowly recovered, and downstream coking enterprises are purchasing according to demand. The market atmosphere is average, and the shipment in the mining area is average. The bidding situation has declined, and the transaction situation of some coal types is temporarily stable. Recently, the prices have been weak, and the overall trend is weak.

On the downstream side, steel market prices have continued to decline, and steel mills continue to suppress raw material prices, dropping by 50-55 RMB/ton. Steel mills are losing profits and terminal demand is weak. Overall, the short-term trend of coking coal prices is weak and stable.

According to analysts from SunSirs Coking Coal, the price of coking coal in July fell, downstream coking enterprises' market sentiment fell, demand was weak, and the steel market was under pressure. Therefore, the purchase of coke was cautious, and the demand for coking coal was average, with on-demand procurement being the main focus. It is expected that the price trend of coking coal will remain weak and stable in the short term, and attention still needs to be paid to the supply and demand situation and the transaction of building materials in the future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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