Industry news
Coking coal and metallurgical coke purchasing costs of "benchmarking and tapping" enterprises rose more in August than in the previous year.
In August 2023, except for power coal, the procurement cost of other varieties mainly rose year-on-year, with coking coal and metallurgical coke rising more.
From January to August 2023, coking coal purchasing cost decreased by 20.31% year-on-year; metallurgical coke decreased by 25.79% year-on-year; domestically produced iron ore concentrate decreased by 5.09% year-on-year, and imported fines decreased by 2.42% year-on-year; and steel scrap decreased by 18.19% year-on-year.
1、Coking Coal
The weighted average purchase cost of coking coal converted to dry basis by the benchmark enterprise in August was RMB1,695.12/tonne, up RMB102.69/tonne, or 6.45%, while the cumulative average purchase cost of coking coal converted to dry basis in January-August was RMB1,948.44/tonne, down RMB496.50/tonne, or 20.31%, compared with the same period of the previous year.
The weighted average procurement cost of the top 5 enterprises with the lowest average procurement cost of coking coal converted to dry basis from January to August was RMB1,452.38/ton, which was RMB496.06/ton lower than the average procurement cost of the benchmark enterprises and 25.46% lower than the average procurement cost; while the weighted average procurement cost of the 5 enterprises with the highest procurement cost was RMB2,117.25 /ton, which is higher than the average procurement cost of the benchmark enterprises by RMB 168.81/ton and higher than the average procurement cost by 8.66%.
2. Blown coal
The weighted average procurement cost of blown coal converted to dry basis in August was RMB1109.75/ton, up RMB7.61/ton or 0.69% compared with the same period of last year, and the cumulative average procurement cost converted to dry basis from January to August was RMB1374.36/ton, down RMB264.28/ton or 16.13% compared with the same period of last year.
The weighted average procurement cost of the top 5 enterprises with the lowest average procurement cost of blown coal converted to dry basis from January to August was RMB985.94/ton, which was RMB388.43/ton lower than the average procurement cost of the benchmark enterprises and 28.26% lower than the average procurement cost; while the weighted average procurement cost of the top 5 enterprises with the highest procurement cost was RMB1,716.90/ton, which was RMB1,716.90/ton lower than the average procurement cost of the benchmark enterprises. ton, which was RMB342.53/ton higher than the average procurement cost of the benchmark enterprises and 24.92% higher than the average procurement cost.
3. Metallurgical Coke
The weighted average procurement cost of metallurgical coke converted to dry basis in August was RMB2,094.75/tonne, up RMB148.96/tonne or 7.66% YoY. The cumulative average procurement cost converted to dry basis from January to August was RMB2,304.24/tonne, down RMB800.65/tonne or 25.79% YoY.
The weighted average procurement cost of the top 5 enterprises with the lowest average procurement cost of metallurgical coke of the benchmark enterprises from January to August was RMB1937.07/ton, which was RMB367.17/ton lower than the average procurement cost of the benchmark enterprises, and 15.93% lower than the average procurement cost; while the weighted average procurement cost of the 5 enterprises with the highest procurement cost was RMB2665.13/ton, which was It is higher than the average procurement cost of benchmark enterprises by RMB 360.89/ton, which is 15.66% higher than the average procurement cost.
4. Domestic Iron Ore Concentrate
The weighted average procurement cost of domestic iron ore concentrate (dry basis) in August was RMB842.98/ton, up RMB20.25/ton, or 2.46%, while the cumulative average procurement cost from January to August was RMB831.95/ton, a year-on-year decrease of RMB44.64/ton, or 5.09%.
The average procurement cost of domestic iron ore concentrate converted to 62% grade of the benchmark enterprises from January to August was RMB809.08/tonne, and the weighted average procurement cost of the top 5 enterprises with the lowest cost was RMB605.31/tonne, which was RMB203.78/tonne lower than the average procurement cost of the benchmark enterprises, and was 25.19% lower than the average procurement cost; and the weighted average procurement cost of the 5 enterprises with the highest procurement cost was RMB9.00/tonne. The weighted average procurement cost of the five enterprises with the highest procurement cost is RMB 985.16 per ton, which is RMB 176.08 per ton higher than the average procurement cost of the benchmark enterprises, and 21.76% higher than the average procurement cost.
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