Price trend

According to the monitoring of SunSirs, the overall price of coking coal declined in March. At the beginning of the month, the average market price was about 2,475 RMB/ton, while at the end of the month, the average market price was 2,425 RMB/ton, a decrease of 2.02% in price, which was 18.49% lower than the same period last year.

The energy index stood at 1,063 points on March 30, unchanged from the previous day, down 31.90% from the cycle's highest point of 1,561 points (2021-10-21), and up 108.02% from the lowest point of 511 points on March 1, 2016. (Note: The cycle refers to 2011-12-01 to now)

Analysis review

According to survey data from SunSirs, the overall coking coal market declined this month. In terms of production areas, the coal mine operating rate remained stable, and the supply of coking coal was relatively stable. Domestic coking coal prices were mainly consolidated and operated. In terms of downstream coke, recent procurement enthusiasm was general, coke companies still focused on digesting early stage inventory, and still purchased coking coal on demand. The overall wait-and-see mood on the demand side was strong, and online bidding had repeatedly lowered the starting price.

Market outlook

According to the coking coal analyst from SunSirs, the supply of coking coal was relatively stable, and the downstream coke sector recently maintained purchasing coking coal on demand. The operating rate of coking steel enterprises was stable, and the downstream support for coking coal prices was general. Comprehensively, coking coal prices are dominated by weak consolidation operations, with specific reference to downstream market demand.

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