At the beginning of the week, the domestic coking coal market gradually stopped falling and stabilized, showing a bottom feature. According to the monitoring of SunSirs, the main quotation of the domestic coking coal market remained unchanged for two consecutive days on November 25-26, mainly boosted by the news that the supply was affected by the accident maintenance and shutdown of the coal mine, the import coal policy was limited, and the steel market performed well. At present, the price range including tax is 1,360-1,500 RMB/ton.

In terms of regions, the price in Hebei is relatively strong. At present, the price including tax is maintained at 1,480-1,500 RMB/ton, and the price in Shanxi is also stable. In addition, the price in Anhui, Inner Mongolia, Henan and other regions also maintains the level at the beginning of the month. The supply and demand sides of the market maintain a basic balance, but with the improvement of the fundamentals, the supply benefits gradually appear, and the demand side also increases compared with the beginning of the month.

According to coking coal analysts of SunSirs, from the supply side, the port coking coal is rich in marketable resources, but customs clearance is still under pressure, and the supply of foreign coal is insufficient. From the perspective of the domestic market, the release of coal mine production capacity is stable, coke enterprises are generally motivated to purchase raw materials under low profits, and the recent safety inspection factors lack fundamental support for the improvement of disk sentiment and price. It is expected that coke coal futures will remain in range shock in December.

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