According to the Commodity Analysis System of Business Society, the price of coking coal is temporarily stable. The average price of coking coal in the current market is 1701.67 yuan/ton, a decrease of 40.4% compared to the same period last year. On May 28th, the energy index stood at 933 points, unchanged from yesterday, a decrease of 40.23% from the cycle’s highest point of 1561 points (2021-10-21), and an increase of 82.58% 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)
In terms of production location, the coal mine has maintained normal operation, and sales have improved compared to the previous period. Some enterprises have improved in inventory reduction, but downstream enterprises mostly maintain low inventory. The downstream coke market has seen relatively stable coke production, with enterprises actively shipping. However, steel mills have low profits and are below the profit and loss line, which still puts pressure on coke. They mainly purchase according to demand. It is expected that the price of coke will be weak in the short term.
According to the coking coal analyst of Business Society, coking coal maintains normal production, but the demand for coking coal in downstream coke is still mainly based on on-demand procurement. Currently, the profit of coking enterprises has reached a loss state. Overall, the price of coking coal is mainly weak, and the specific situation depends on the demand in downstream markets.
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