Analyst: It is expected that domestic coal market prices will generally stabilize and operate in February.

Recently, mainstream steel mills in many places have raised prices of related coke products, with the effective date being midnight on January 30th. Regarding the first round of price increases in 2026 for coke, the coke and coal futures market responded with a slight increase. At the close on January 30th, the main coke contract rose by 1.29%. How will the price increase of coke affect the production material of coke coal? "Currently, coal mines are producing normally, and the supply of coke coal is relatively sufficient, but private coal mines have plans to gradually shut down later. In addition, as the Lunar New Year approaches, the centralized restocking by coking plants is basically coming to an end, and demand is slowing down," said Zhao Li, a coke coal analyst at Zhuochuang Information. Regarding the future trend of the coke market, Zhao Li believes that overall, as the Lunar New Year approaches, the restocking by coking plants is nearing an end and demand will gradually decrease, and the market is expected to gradually stabilize and operate. It is expected that the overall price of the domestic coal market will stabilize in February. In terms of supply, as the Lunar New Year holiday approaches, coal mines will gradually shut down, leading to expectations of a significant tightening of market supply; in terms of demand, the impact of the Lunar New Year holiday will mean that coal-consuming enterprises will mainly use their existing inventory, limiting new purchasing demand. At the same time, traders will gradually close for holiday, resulting in relatively limited speculative demand. Overall, it is expected that the domestic coal market in February may show a weak supply-demand balance.