Publicado: Mar 22, 2024 17:40
【SMM Coking Coal Market Weekly Report】Supply side, this week the sixth round of coking coal price cuts landed, coking enterprises continue to suffer losses, coking furnace operating rate continues to decline slightly, coking coal supply overall weak. On the demand side, although the steel market showed some signs of recovery this week, steel mills remain cautious in purchasing, generally focusing on on-demand procurement. Therefore, the coking coal fundamentals continue to show a weak supply and demand situation. Looking ahead, the market overall remains cautious, downstream demand, although the steel market showed some signs of recovery this week, is still below market expectations. There are concerns about whether terminal steel demand can continue to recover, so steel mills generally have a low enthusiasm for resuming production. Due to the tight cash flow of steel mills at present, the prices of upstream coking coal raw materials continue to decline, and some steel mills still expect a seventh round of price cuts. However, considering the gradual recovery of the steel market and the continued losses of coking enterprises, it is expected that the game of the seventh round of price cuts will continue for some time, and the coking coal prices are expected to remain stable next week.

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