Shanxi high quality coking coal has been reduced by 300 yuan in recent 3 months

Last week, the national coking coal market continued to decline. The trend of coking coal in Shanxi is differentiated, and the decline of high-quality coking coal is large, with a cumulative decline of 300 CNY/ton in the past three months. The decline of medium and high sulfur coking coal is limited due to resource shortage, with a range of about 30 CNY/ton. This month, the refined coal market in Shandong Province has been reduced for two rounds, with a total reduction of 70 CNY/ton. After the reduction, the gas refined coal mining tax in Jining area is about 870 CNY/ton. In addition, the price of lean coal in Henan Shenhuo area, high-quality coking coal in Guizhou Panjiang area, and low sulfur 1 / 3 coking coal in Wuhai area, Inner Mongolia, has been reduced by 30-70 CNY/ton. In the downstream, at present, the coking profit has shrunk significantly, the price of raw materials is still under pressure, and deliberately control the inventory, so it is difficult to boost the demand side. On the whole, in the later stage, the price of coking coal market will shift from supply leading to demand leading.

In the buyer's market, the coking coal market will continue to be weak. In Shandong: last week, the price of Shandong clean coal market continued to decline, with the most obvious decline in local coal mines, which was 30 CNY/ton. This month, the cumulative decline was 70 CNY/ton. After the decline, Jining gas clean coal mining tax included 870 CNY/ton. Different from the flexible price adjustment of local coal mines, Shandong energy group's price follow-up was slow and the sales pressure was large. On the whole, the supply and demand pressure of Shandong clean coal market is large, and there is still room for the price to continue to decline from now to the end of the year. In the downstream, at present, the coke is still weak and the third round of price increase and decrease of 50 CNY/ton has started in some steel mills in some regions recently, but the coking plant has not accepted it. Considering the limited profit space of the coking plant, it is difficult to reduce the price in this round. Therefore, the coke is expected to gradually stop falling and stabilize in the later period, but the rebound is still difficult. In Shanxi Province, the coking coal market was still weak last week. The differentiation of coking coal market in Shanxi Province was obvious, the decline of high-quality coking coal was large, and the price of medium and high sulfur coking coal was relatively stable. Taking the high-quality main coking coal in Luliang area of Shanxi Province as an example, the price has decreased by 300 CNY/ton to 1380 CNY/ton in the past three months. However, due to the continuous low output and limited price fluctuation space, the cumulative decline of the three prices is 30-50 CNY/ton, and the main coking coal s1.6 in Luliang area now has a tax content of 1100 CNY/ton.

In other aspects, the price of high-quality coking coal in Wuhai region continued to decline last week. From September to now, the trend of coking coal in Wuhai area of Inner Mongolia is obviously differentiated, among which the demand for medium and high sulfur coking coal is stable and the price is relatively stable, while the demand for low sulfur coking coal is general and the price continues to decline. Taking the price of low sulfur 1 / 3 coking coal as an example, the price has dropped by 140 CNY/ton in the past three months, including 30 CNY/ton in November, 1010-1020 CNY/ton in low sulfur 1 / 3 coking coal after the drop, and the demand for high quality coking coal is one Generally, it is mainly due to the impact of downstream cost reduction. The demand for medium and high sulfur coking coal is stable, mainly because the output of medium and high sulfur coking coal mines in Shanxi is not large, so customers began to turn to Wuhai area for procurement and effective supplement. At present, the tax content of medium sulfur fat coal in Wuhai area is 760 CNY/ton. From now to the end of the year, the supply of coking coal is sufficient, but there is no strong support at the demand side, and the contradiction between supply and demand is prominent. The price of coking coal market is gradually changing from the price determined by supply in the early stage to the price determined by demand. Under the background of continuous weak demand, the price focus will still move downward. In terms of price, it is expected that the price of gas refined coal in Shandong Province will be about 870 CNY/ton next week, the price of main coking coal in Handan, Hebei Province will be stable at about 1400 CNY/ton, and the price of low sulfur main coking coal in Luliang, Shanxi Province will be stable at 1380-1400 CNY/ton for the time being.