SunSirs: China Coking Coal Market Prices Continue to Decline in November

https://www.chemnet.com   Nov 29,2024 SunSirs

In November, the market price of coking coal continued to decline, and the trading atmosphere in the market was cold, mainly due to the weak consolidation of coking coal. The downstream steel market has entered the off-season, and the black series has entered a downward trend. The spot price of steel has fallen, and as a result, the price of coking coal market has shown a downward trend. According to the monitoring system of SunSirs, as of November 28th, the price index of SunSirs's coking coal was 1,714.75 RMB/ton, a decrease of 5.64% from the beginning of the month.

Supply side: The operating rate of coal mines in the Shaanxi region is normal, and there have been fewer coal quality recovery issues in the early stages of coal mining in the Zichang area of Shaanxi. Currently, it has also returned to normal, and overall inventory supply has significantly increased.

In terms of imports, the latest data from the General Administration of Customs shows that in October 2024, China imported 9.957 million tons of coking coal, a year-on-year increase of 24.8%. From January to October 2024, China imported a total of 99.246 million tons of coking coal, a year-on-year increase of 22.3%.

Downstream: Coke enterprises and port traders mainly ship goods, causing downward pressure on prices and weak demand. They find it difficult to accept high priced coal and mainly purchase on demand, leading to a wait-and-see attitude in the market. 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, there is an overall imbalance between supply and demand in the coking coal market, with a situation where supply exceeds demand. Downstream enterprises have weak demand and are cautious in procurement, replenishing inventory as needed. It is expected that the coking coal market will fluctuate weakly in the later stage, and the supply and demand situation and building materials transactions still need to be monitored 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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