Coking coal bottomed out and the market rebounded

It is understood that due to the rebound in coke prices, in October 2012, China's domestic coking coal market has significantly improved, and major coking coal production groups have successively raised coking coal prices.

On the one hand, a large number of investment projects were launched in the early stage to cope with the deceleration of economic growth, and the market demand is expected to improve. On the other hand, before the *** convening, the Shanxi Medium and Small Coal Mines, the main producer of coking coal in the country, generally stopped production and production, and the limited rail transport was also the main reason for temporary supply shortages in major demand areas such as Hebei and Shandong. From late September, the purchase rate of steel mills has accelerated significantly, and steel mills have frequently increased the purchase price of coking coal. Shanxi Luliang coking coal market as a whole pulled up 40-50 yuan / ton.

From the perspective of the changes in the domestic price index of major coking coal, coking coal prices have gradually reversed the steady decline in the continuous decline since the beginning of the year since September. However, from the data we have tracked in Linyi, Yanjiao coking coal and Tianjin Coal, the average monthly growth rate in October from September was only 5.6%, and the increase was relatively limited. There was room for compensatory growth in the later period. From the perspective of the domestic coking coal market, it is expected that the rebound will be continued in the later period.

It should be noted that the international coking coal price has continued its weak downward trend in the near term - long price and spot prices have been falling simultaneously. The benchmark prices of coking coal contracts signed between Japan and Australia have dropped from 225 US dollars/ton in the third quarter to 170 US dollars/ton in stock. Market prices fell below $150/ton. Therefore, the decline in international coking coal prices and the slight rebound in domestic prices are bound to promote the continued increase in the import of coking coal, the latter will pose a certain pressure on domestic coking coal prices.