【SMM Coking Coal Market Weekly Report】On the supply side, the reductio

Published: Mar 15, 2024 17:37

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【SMM Coking Coal Market Weekly Report】On the supply side, the reduction in the utilization rate of coke ovens has narrowed somewhat this week, and the overall operation of coking coal supply remains stable. On the demand side, due to the continued sluggish demand in the end steel market, steel mills have generally delayed resuming production, leading to a further decrease in blast furnace iron production this week, and continued weakening of coking coal demand. Looking ahead, it is expected that blast furnace iron production at steel mills will stop falling and rebound next week, and coking coal demand may stabilize and rise. However, considering the persistent weakness in end-market demand for finished products and the continued deviation in steel mill profitability, it is expected that steel mills will continue to focus on demand-driven procurement. In terms of supply, the current operating rate of coke ovens is at a low level, and there is limited room for further reduction in coking plant production. Additionally, the continuous decline in the upstream coking coal prices is expected to help improve the profitability of coking plants, leading to the overall stable operation of the supply side. Therefore, with the expectation of stable supply and a slight rebound in demand, it is expected that coking coal prices will remain stable 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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