According to the commodity analysis system of SunSirs, the price of coking coal fluctuated last week. At the beginning of the week, the price of coking coal was 2,075 RMB/ton, while at the end of the week, the price of coking coal was 2,062.5 RMB/ton, a decrease of 0.6% and an increase of 21.2% compared to the same period last year. On May 23, the energy index was 995 points, a decrease of 5 points from yesterday, a decrease of 36.26% from the highest point in the cycle of 1,561 points (2021-10-21), and an increase of 94.72% from the lowest point of 511 points on March 1, 2016. (Note: The cycle refers to 2011-12-01 present)
In terms of origin, the coking coal market operated steadily and weakly last week. In terms of supply, there have been many safety inspections in the mining area recently, with low production and stable and weak supply. Downstream procurement intentions are currently weak, and inventory needs to be replenished as needed. The bidding situation this week has seen mixed ups and downs, with some cases of unsold bids and narrow price fluctuations, resulting in an overall stable trend. Last week, the first round of price reduction in the coke market was implemented, with a cumulative decrease of 100-110 RMB/ton. The overall supply of coke is relatively stable, and the recent market performance in the future is relatively stable. There is limited space for coke to continue to decline, and it is expected that the trend will be stable in the short term.
According to the coking coal analyst from SunSirs, coking coal prices stabilized last week, and the downstream coking enterprise market has limited downward space in the near future. Steel plant profits have recovered, and operating rates have remained stable with small to medium increases. The demand for coking coal has remained stable, and the supply-demand game shows that the short-term price of coking coal may fluctuate mainly, depending on downstream market demand.
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