SunSirs: China Coking Coal Prices Fell weakly Last Week (August 5-9)

https://www.chemnet.com   Aug 12,2024 SunSirs

According to the commodity analysis system of SunSirs, the price of coking coal fell weakly last week. From August 5th to August 9th, the average price of coking coal was 1,932 RMB/ton.

Last week, the coking coal market experienced a weak downward trend. At present, many coal mining sites in Shanxi Province are maintaining normal production. In some areas, production has decreased due to problems with underground working faces, resulting in a decline in trading volume. However, overall, the prices are mainly reduced. After the price reduction in the coke market, the price of coking coal has been under pressure. Currently, there is little change in the production of coke enterprises, and the supply of coke is relatively stable. Enterprises are actively releasing their inventory. Downstream steel manufacturers are still losing profits, and the increase in blast furnace maintenance and production restrictions has led to low profits for steel mills and weak terminal demand. Overall, the short-term price of coking coal is expected to continue its downward trend.

According to analysts from SunSirs, the price of coking coal fell weakly last week, and downstream coking enterprises have continued to lower prices recently. The steel market is under pressure, and the demand for coke procurement is weak. The demand for coke for coking coal is average, and on-demand procurement is the main focus. It is expected that the price of coking coal will continue to decline 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.

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