Coking coal is weak

Since July, the industry's downstream low inventory pattern,superimposed environmental protection and production restrictions are expectedto be gradually released, terminal demand still maintains strong toughness,steel stocks are declining in the off-season; both finished materials and cokehave rebounded strongly, with the largest increase of 14%, 28 respectively. %;coking coal due to loose supply, demand is suppressed by environmentalprotection expectations, although the latter has followed up, but the increaseis limited, the overall out of the "top and bottom" trianglefinishing form.

At present, at the supply end, the internal coal is affectedby environmental protection in stages, the supply of the coal washing plant islimited; the external supply is contracted, and the margin of supply pressureis improved. On the demand side, although the terminal demand is stillacceptable, the later contradiction is still shrinking the demand for cokingcoal caused by steel and coke environmental protection. In addition, theinventory of Jiaoqi and steel mills is high, and the replenishment of thereservoir is insufficient. The steady accumulation of coal mine inventory alsoreflects the weak demand. In the later stage, coking coal or oscillatingoperation is weak, and in the context of environmental protection, after cokingprofit staged repair, multi-coke air coke coal is still the main.