According to the Commodity Analysis System of SunSirs, coking coal prices have stabilized this week. On October 7th, the price of coking coal was 2,245 RMB/ton. On the weekend, the price of coking coal was around 2,257.5 RMB/ton, an increase of 0.56%, a decrease of 12.61% compared to the same period last year. On October 12th, the energy index stood at 1,064 points, a decrease of 4 points from yesterday, a decrease of 31.84% from the highest point of 1,561 points in the cycle (2021-10-21), and an increase of 108.22% 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, domestic coking coal prices have stabilized this week, and coal mines that were shut down before the holiday have resumed production. Coal supply has increased, but overall inventory is not high. Downstream coke companies have raised the price of coke, but mainstream steel mills have not responded yet. The overall shipment of coke is relatively smooth, and the profit losses of downstream steel mills have intensified recently, limiting their ability to accept the increase in raw materials.

According to coking coal analysts from SunSirs, the price of coking coal has been in a consolidation operation. Currently, online bidding for coking coal has slightly increased, and downstream coke still purchases coking coal on demand. Based on the short-term price or consolidation operation of coking coal, it depends on downstream market demand.

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