【SMM Coking Coal Market Weekly Report】Key Points: On the supply side,

Published: Nov 24, 2023 19:39

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【SMM Coking Coal Market Weekly Report】Key Points: On the supply side, the coking coal sales of coking enterprises are still acceptable this week, with their own low inventory levels being maintained, but the majority of coking enterprises are experiencing increased losses, leading to decreased production enthusiasm and a further reduction in coking coal supply. On the demand side, steel mills also maintained acceptable profits this week, with high levels of molten iron production leading to rigid demand for coking coal. However, the enthusiasm of traders to purchase goods has decreased, resulting in an overall weakened demand for coking coal. On the cost side, a coal mine accident in Shanxi this week resulted in the suspension of production in some coal mines, further tightening the supply of coking coal. Additionally, the rigid demand from downstream coking and steel enterprises still exists, which could lead to a small increase in the price of coking coal. Overall, the supply and demand of coking coal are relatively balanced, but the coal mine accident could still lead to an increase in the price of coking coal, causing coking costs to continue to rise. There is still an expectation for a second round of price increases in coking coal, and the coking coal market could run stably with a slight upward trend next week.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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