According to the Commodity Analysis System of SunSirs, coking coal prices have temporarily stabilized this week. The price of coking coal from the beginning of the week to the weekend was 1,927.5 RMB/ton, a decrease of 20.95% compared to the same period last year. On August 24th, the energy index stood at 984 points, a decrease of 1 point from yesterday, a decrease of 36.96% from the highest point of 1,561 points in the cycle (2021-10-21), and an increase of 92.56% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to the period from December 1st, 2011 to the present)

In terms of origin, the domestic coking coal market has remained stable this week due to the recent frequent accidents in Shanxi and limited supply of coking coal. And due to the impact of safety inspections, the supply may have contracted. The downstream coke market is currently operating steadily, but the game between steel and coke has resulted in lower than expected transactions from steel mills. It is expected that coke will operate weakly in the future

According to the coking coal analysts of SunSirs, the price of coking coal is stable and weak. Currently, the supply of coking coal is tight, and downstream steel mills still have demand for coke. Therefore, coke does not have a foundation for a downward adjustment. Based on the market game, the short-term price of coking coal may be weak and the consolidation and operation will be the main factor, and the specific situation will depend on downstream market demand.

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