Price trend

According to the Commodity Analysis System of SunSirs, coking coal prices had temporarily stabilized this week. The price of coking coal from the beginning of the week to the weekend was around 2,257.5 RMB/ton, a decrease of 13.17% compared to the same period last year.

On October 19th, the energy index stood at 1,058 points, an increase of 2 points from the previous day, a decrease of 32.22% from the highest point of 1,561 points in the cycle (2021-10-21), and an increase of 107.05% 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)

Analysis review

In terms of origin, domestic coking coal prices were consolidating this week, and the overall increase in coal mines in the origin was limited due to safety inspections. Downstream coke companies may shelve the increase in coke prices due to the loss of profits from steel mills, and their ability to accept the increase in raw materials was limited.

Market outlook

According to coking coal analysts from SunSirs, the price of coking coal had been in a consolidation operation. As of October 20th, the price of coking coal was fluctuating, and downstream coke still purchased coking coal on demand. Overall, in the short term, coking coal prices may mainly consolidate, depending on downstream market demand.

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