According to the monitoring of the business society, the coking coal market in North China was about 1541.67 yuan / ton on February 1, and the average price of coking coal market in North China was 1581.67 yuan / ton on February 28, with a slight increase of 2.59%, up 6.15% over the same period last year. The price of coking coal was relatively strong at the beginning of February, and stabilized temporarily from the middle to the end of the month.

On February 28, the coking coal commodity index was 116.73, unchanged from yesterday, down 3.95% from the highest point 121.53 in the cycle (March 12, 2019), and up 159.92% from the lowest point 44.91 on January 28, 2016. (Note: period refers to from September 1, 2012 to now)

According to the business community, on the supply side, large state-owned enterprises have normal production during the Spring Festival, and the supply side is guaranteed. There are many manufacturers in accordance with the implementation of early orders, the overall price presents a stable situation. After the festival, the supply of coal mines basically recovered, and the supply side as a whole was obviously loose compared with previous years. In order to do a good job of epidemic prevention and control, during the holidays, large coal mines generally do not have holidays for normal production. At the same time, most of the mines have fewer days off, enterprises do not stop work, or some enterprises return to work early, some stocks are on the high side, enterprises are not smooth in shipment, and some coal mines are under shipment pressure. Therefore, coal enterprises are willing to reduce the price of shipment.

Demand: on the downstream side, the sales and shipment of coking enterprises are good before the festival, and the inventory of coking enterprises remains low. The new production capacity of coking enterprises is gradually releasing. According to the coke inventory of steel plants, some steel plants have not reached the reasonable inventory before the festival, and there are still plans to replenish the warehouse in the near future. Some of the steel plants that have been put into maintenance are scheduled to resume production about one year later. The overall supply of coke is still tight, the price of coke has reached a higher level, the profit of coking enterprises is higher, and the profit in some areas has reached 1000 yuan / ton, which is the highest profit in the past decade. On the spot market after the festival: at the end of last month, affected by the rain and snow weather traffic control in Shanxi and the environmental protection control in Hebei, the coke inventory in these two regions had a significant rebound, and the inventory in the factory increased significantly. The price of coke is relatively high, and the purchasing enthusiasm of downstream steel plants has slowed down significantly. Recently, they are at a reasonable inventory level. After the first round of increase and decrease was implemented last week, some steel plants started the second round of increase and decrease. At present, coking enterprises have not responded. In the current situation of slightly loose supply of finished coke, it is expected that the overall coke market will be weak in the near future.

According to coking coal analysts of business society, the price of coke is relatively high, and the purchasing enthusiasm of downstream steel plants is obviously slowing down, and they are at a reasonable inventory level in the near future. At present, the overall supply of coke is slightly loose, and the stock of raw materials before the festival is relatively loose. The demand for coking coal procurement is slowing down, mainly to digest inventory. The continuous reduction of coke price has depressed the enthusiasm of coke enterprises for purchasing high price raw coal. Moreover, the overall inventory of coking coal is relatively loose. It is expected that there may be downward space for coking coal in March, depending on the downstream market demand.