Coal tar prices hit another record high, rising 150% for a year

After the "May Day", the domestic coal tar market, which was already operating at a high level, picked up an upward trend again driven by the surge in the downstream mainstream product coal tar.

"In addition to the driving factors of downstream industries, the re-rising of coal tar prices this round is also related to the expected slowdown in the effective increase of coal tar in the later period and the impact of carbon peaks and carbon neutral macro policies on the coal chemical industry.

Downstream products skyrocket

According to statistics from Henan Chemical Network, as of June 2, the mainstream transaction prices of domestic medium-temperature coal tar pitch and modified coal tar pitch soared to 5000-5300 yuan and 5300-5600 yuan respectively, and the price of modified coal tar pitch in some areas even exceeded 6,000 yuan.

Shao Huiwen said that coal tar pitch is the mainstream product that accounts for more than 50% of coal tar deep processing products, and its price increase directly affects the market trend of the entire coal tar deep processing industry chain.

In addition, the comprehensive operating rate of coal tar deep processing enterprises in May was 53%, an increase of 4% month-on-month, which also further increased the demand for coal tar and contributed to the rise of the coal tar market.

Slow supply of goods

According to statistics from 230 independent coking companies across the country, the overall operating rate after eliminating the eliminated capacity is 89.

Huo Sheng, a Liaoning trader, said that in addition to the reduction in supply, the continuous rise of coal tar products is also inseparable from the hype of traders.

　　Macro policy assistance

　　Recently, coal chemical companies in various places are deeply interpreting the carbon peaking and carbon neutral strategies proposed by the state.

　　But from another perspective, this also brings development opportunities to the coal tar industry chain.

　　In addition, the China Purchasing Managers Index shows that in May, China's manufacturing purchasing managers' index was 51%, a slight decrease of 0.

　　According to the analysis of industry insiders, the coal tar terminal market may usher in a new round of recovery based on the changes in the micro and macro environment, especially if the downstream market of coal tar pitch can maintain steady growth, coal tar prices are expected to rise to a new level.