Last week, the coking coal market experienced a weak downward trend. According to the monitoring system of SunSirs, as of February 11th, the price index of SunSirs's coking coal was 1,537.25 RMB/ton, a decrease of -1.6% from the beginning of the month.
In terms of supply: After the holiday, most private coal mines have not resumed normal production and sales, and only a small number of state-owned coal mines have resumed production. Prices have not been adjusted much, and many pre holiday quotations are being implemented. It is expected that the resumption of work will be concentrated after the 15th of January, and the supply will increase. More attention needs to be paid to the resumption of coal mine work.
In terms of downstream: With downstream steel mills resuming work and production, it is expected that the production of molten iron will steadily recover. However, downstream consumers mainly consume pre holiday inventory, with weak demand and low market trading sentiment, resulting in insufficient support for coking coal. The market tends to adopt a wait-and-see attitude, with a strong bearish sentiment in the future. Overall, the coking coal market prices have been running weakly recently.
According to analysts from SunSirs, the supply side of coking coal is still in a closed state, with almost no difference in supply compared to before the year. The trading atmosphere is cold, and downstream demand is insufficient, mainly consuming pre holiday inventory. It is expected that the coking coal market will continue to operate weakly in the later stage, and attention still needs to be paid to the supply and demand situation and building materials transactions in the future.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com
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