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CITIC Futures: Coking coal is expected to create a supply gap, driving prices upward

K-LinePoet
A major coal mine accident in Shanxi may lead to widespread tightening of safety supervision in domestic coal mines. Although Mongolian coal imports have supplemented supply, a supply gap is still expected to occur, driving prices higher. After the third round of coke price increases, coking profits remain high for the year, and coke plants are highly motivated to operate, with supply continuously increasing month-on-month. The previous rise in steel prices has made steel mill profits quite substantial, and a slight increase in blast furnace pig iron output at steel mills is still expected. Overall, the strong demand for coke supports higher prices. It is expected that prices will follow the upward trend of coking coal. (CITIC Futures)
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