The demand is weak, and the tar price continues to decline (from December 30 to January 6)

From December 30, 2022 to January 6, 2023, the production price of coal tar in Shanxi was lowered. According to the monitoring of the business community, the average market price was 6155 yuan/ton last weekend and 5867.5 yuan/ton this weekend, down 4.67%.


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On January 5, the coal tar (high temperature) commodity index was 202.33, down 9.91 points from yesterday, down 12.59% from the cycle’s highest point of 231.47 (2022-11-09), and up 329.12% from the lowest point of 47.15 on December 6, 2015. (Note: the cycle refers to 2011-09-01 to now).


The downstream deep processing industry has weakened as a whole, and has cracked down on the coal tar market. Recently, the coking enterprises have started to work slightly, the tar supply has improved slightly, and the tar bidding price has declined in the past two weeks.


The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall. It can be seen from the monthly coal tar K column chart above that since January 2022, the coal tar market has risen for six months, only slightly declined in May, and the price remained stable in February. The weekly K-bar chart shows that the coal tar market rose for 12 consecutive weeks. Only after a small price correction in one week, the price continued to rise, and fell in December.


In terms of the industrial chain, most commodity prices in the downstream deep processing industry fell this week, including coal tar pitch prices, industrial naphthalene, anthracene oil and other commodity prices. With the price of raw tar declining for several consecutive weeks, the profit of the deep processing industry has recovered, and the current operating rate is generally stable.


The coal tar market continued to decline broadly this week, with a decline range of about 150-300 yuan/ton this week. In some areas where the previous decline was not obvious, there was a lot of additional decline this week. The mainstream price in Shandong is 6100 yuan/ton, Hebei 5900-6000 yuan/ton, Henan 6050 yuan/ton, and Shanxi 5750-5900 yuan/ton. In terms of supply, coking enterprises continued to increase production this week, with slightly loose tar supply and weak overall mentality of coking enterprises. In terms of demand, the downstream deep processing industry fell collectively this week, with a stronger mentality of suppressing raw materials. Without downstream support, tar prices fell significantly. On the whole, negative factors in the tar market are dominant at present. Under the expectation of loose supply, tar prices in the future will remain weak.

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