SunSirs: China Coking Coal Market Remained Weak Last Week (November 11-15)

https://www.chemnet.com   Nov 18,2024 SunSirs

According to the commodity analysis system of SunSirs, the coking coal market remained weak last week. As of November 15th, the average market price of coking coal was 1,772.25 RMB/ton, a decrease of -2.48% from the beginning of the month.

At present, coal mines in Shanxi have not resumed normal production, and some areas have reduced production due to underground working face problems. Some resources are still under pressure, and due to the impact of the market downturn, procurement sentiment is insufficient. The demand for coke in the demand side market is weak, and coal prices have fallen due to the third round of coke price cuts. The transaction atmosphere in the coking coal market is weak, and procurement is not active. Downstream consumers tend to adopt a cautious and wait-and-see attitude towards raw material procurement, resulting in a weak operation of the coking coal market.

According to analysts from SunSirs, the coking coal market remained weak last week. Downstream coke enterprises have weak procurement demand and average demand for coking coal, with a focus on on-demand procurement. It is expected that the price of coking coal will remain weak and stable in the short term, and attention should still be paid to the supply and demand situation and the transaction of building materials in the future.

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