Steel prices slowed down, coking coal futures fell more than 5% during middle of Nov. 2021
The domestic steel market fell across the board since beginning of Nov. 2021 until now. As of press time, steel prices slowed down, coking coal futures fell more than 5%. The spot price of imported iron ore in Shandong fluctuates. In terms of demand, since November, the steel market has been sluggish, steel prices have fallen sharply, steel mills are facing losses, and steel mills in multiple locations have issued maintenance messages to reduce production and begin to control the pace of coke procurement. At present, the supply and demand of the coke market are both weak and oversupply. Overlapping coke prices continues to fall, and the market mentality is pessimistic. In terms of costs, due to the weak coke market, the demand for coking coal has weakened, and the supply has been slightly loosened, and there has been a downward adjustment. XUD STEEL reminds you to purchase steel products (steel pipes, steel coils) on-demand.