SunSirs: China Coking Coal Market Showed a Trend of Rising and Falling in October

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

The coking coal market showed a trend of first rising and then falling in October. In the first half of the month, with the improvement of macro policies and the recovery of steel mill profits, blast furnaces gradually resumed production, and terminal inventory replenishment was good. Under the favorable trend, coking coal prices rose. In the second half of the month, with several rounds of price reductions for coke, the market center of gravity shifted downward, and steel prices fell. As a result, the coking coal market prices experienced a downward trend. According to the monitoring system of SunSirs, as of October 30th, the price index of SunSirs's coking coal was 1,817.25 RMB/ton, an increase of 2.54% from the beginning of the month.

On the supply side: As the end of the month approaches, there is sufficient spot inventory at the port. In order to accelerate the return to cash, the flow of market inventory has accelerated. However, due to the recent concentration of goods at the port, the overall port inventory is slightly under pressure.

Downstream coke enterprises have good demand for port trade in the first half of the year, with traders mainly shipping in the latter half of the year. Prices are under pressure and prices are declining, resulting in weak demand. Demand is mainly focused on on-demand procurement, and the market is adopting a wait-and-see attitude. The trading atmosphere for imported Mongolian coal is relatively cold, with average trading volume. Overall, downstream demand is insufficient, resulting in a slight decline in coking coal market prices.

According to analysts from SunSirs, downstream enterprises have weak demand and are cautious in procurement, replenishing inventory as needed. It is expected that the coking coal market will experience weak fluctuations in the later stage, and attention should still be paid to the supply and demand situation and building materials transactions in the future.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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