Coal Mine Accident Drives Short-Term Coking Coal Rally, China CITIC Futures Says

GateNews
According to Guru Club, citing China CITIC Futures on May 24, a coal mine accident is expected to push coking coal (焦煤) prices higher in the coming weeks. The brokerage noted that coking coal fundamentals remain healthier than in 2024, with upstream coal inventories sitting lower. Despite the accident, downstream iron production demand should absorb coking coal supply, and low inventory levels are likely to support prices. China CITIC Futures forecast that if safety inspections expand to Shanxi province or nationwide, prices could rally further to reach year-to-date highs.
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