The coking coal market continued to operate weakly in December, with a cold trading atmosphere in the market. The downstream steel market has entered the off-season, and the black series has entered a downward trend. The spot price of steel has fallen, and as a result, the price of coking coal market has shown a downward trend. According to the monitoring system of SunSirs, as of December 27th, the price index of SunSirs's coking coal was 1,609.75 RMB/ton, a decrease of -6.12% from the beginning of the month.

On the supply side: As the end of the year approaches, some coal mines have gradually completed their tasks and are experiencing production shutdowns. Resulting in a decrease in the supply of coking coal. The market sentiment of intermediate coal washing enterprises is relatively low. Most coal types have fallen below their lowest prices in a year.

In terms of imports, the latest data from the General Administration of Customs shows that in November 2024, China imported 12.295 million tons of coking coal, a year-on-year increase of 23.9% and a month on month increase of 23.5%, ending the previous three consecutive months of decline and setting a record high. From January to November 2024, China imported a total of 112 million tons of coking coal, a year-on-year increase of 22.5%.

Downstream: Coke enterprises and port traders mainly ship goods, causing downward pressure on prices and weak demand. They find it difficult to accept high priced coal and mainly purchase on demand, leading to a wait-and-see attitude in the market. The trading atmosphere for imported Mongolian coal is relatively cold, with average trading volume. Overall, downstream demand is insufficient, and the price of coking coal market continues to decline.

According to analysts from SunSirs, the coking coal market is generally weak in operation. Downstream enterprises have weak demand and are cautious in procurement, replenishing inventory as needed. It is expected that the coking coal market will fluctuate weakly in the later stage, and the supply and demand situation and building materials transactions still need to be monitored in the future.

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