mrjackpot| Shandong Energy Group Youfanghao Mine Project started: Coking coal 2409 contract closed down 1.04%, coke 2409 contract closed down 1.45%

Newsletter summary

Coking coal 2409 contract fell 1.Mrjackpot.04%, coke 2409 contract fell 1.45%; Mongolian coal into Shandong project started to ensure energy security; rainstorm blue warning issued, Shanxi coal mines to strengthen safety precautions; coke demand rebounded, the fifth round of increase and landing difficulties, dual coke contract focus on support.

Text of news flash

[contract prices of coking coal and coke both fell]

Coking coal 2409 contract for 1753.5 yuanMrjackpotThe price closed down 1.04%. Quotations in the mainstream areas of the spot market show a slight downward trend on a stable basis.

Coke 2409 contract closed at 2269 yuan, down 1.45%. At the same time, quotations in mainstream areas of the spot market remained stable.

The ratio of coking to coal decreased by 0.32% to 1.29.

Shandong Energy Group launched a key project called "Mongolian Coal into Shandong" on May 9. the group's Northwest Mining has an annual output of 5 million tons of oil room trench mine and coal preparation plant project, which aims to ensure the country's energy security through the strategic cooperation between the two provinces of Mongolia and Shandong. It is expected that the commissioning of production will bring new momentum to the channel of "Mongolian coal into Shandong".

The Central Meteorological Observatory issued a blue warning for heavy rain 10:00 on May 10th. It is expected that in the next 24 hours, there will be heavy rain or torrential rain in many areas, including east-central Guizhou, north-central Hunan and eastern Hubei, and heavy rain may even occur in eastern Guizhou, with rainfall between 100mm and 150mm.

China Coal Transportation and Marketing Association pointed out that the status and role of coal as a guarantee of energy in China will be difficult to be replaced in the next long period of time.

Shanxi Province issued the Circular on doing a good job in Coal Mine Safety Prevention work in 2024 Flood season, requiring all coal mine safety supervision departments and coal mine enterprises to conscientiously fulfill their responsibility of safety prevention and strictly check and reform themselves. to ensure the safety of mines and coal mines.

Coal production in the main producing areas remained stable, and the supply of coking coal was generally stable. Due to the coke rising and landing for four consecutive rounds, the profit level of coke enterprises has been restored, and the process of resuming production continues to advance. However, due to the low level of coking coal inventory in coking enterprises, the demand for coking coal replenishment still exists. Despite the increase in coke supply, steel mills are expected to become more cautious about coke procurement because of concerns about downstream demand for finished products and less acceptance of higher coke prices.

From the market point of view, coking coal 2409 contracts and coke 2409 contracts are today a pullback, falling below the 20-day moving average support level. The 1730 points of the Coking Coal 2409 contract and the 2200 points of the Coke 2409 contract are worthy of attention.