2026-01-20 06:51:50

The coking coal market just took a hit—prices tumbled 3.7% to settle at 1,133.5 yuan per metric ton. On the surface, it's just another commodity price movement. But dig deeper, and you'll spot something worth paying attention to.

Coal prices don't exist in a vacuum. They're a bellwether for industrial activity and global demand cycles. When thermal coal and coking coal start softening like this, it usually means steel mills are pumping the brakes, construction pipelines are tightening, and the broader manufacturing engine is cooling. For crypto investors watching macro trends, this matters because it feeds into the larger narrative about where the global economy is heading.

The 3.7% decline might seem modest in isolation, but commodity markets move on shifts in sentiment and real-world ordering patterns. If coking coal keeps sliding, it could signal that the reflation trade is losing steam—something that historically correlates with capital flows shifting between risk assets.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

16 Likes

Reward
16
7
Repost
Share

Comment

0/400

GweiWatcher

· 9h ago

Coking coal drops 3.7%? Now it's time to look at the wallets... Signs of economic slowdown

View OriginalReply0

TradingNightmare

· 9h ago

Is the demand for steel really weakening? Isn't this sharp drop in coal a signal? Risk assets are about to start a reshuffle.

View OriginalReply0

CryptoGoldmine

· 9h ago

Coking coal drops 3.7%, the mining difficulty adjustment cycle is approaching. The computing power yield ratio is starting to rise this month, worth paying attention to.

View OriginalReply0

OnchainSniper

· 9h ago

Coking coal drops 3.7%, are steel mills about to run out of cash? This is getting interesting --- When the macro headwinds hit coal, you know the economy is really cooling down. The crypto circle is still dreaming --- Anti-inflation trades are cooling off, this is the real signal, funds are really fleeing --- Wait, what does this decline mean? We need to see how the steel prices move next --- Manufacturing is cooling off, big on-chain players should probably start to exit --- It's that macro narrative again, too many believers in the crypto circle --- Softening of coking coal = risk assets bleeding, those who understand know --- Looking at coal prices to gauge the economy? Better to look directly at implied volatility in options --- Miner costs are easing, mining difficulty is probably going to drop --- That's why I don't touch commodities, it's too虚 (vague/uncertain)

View OriginalReply0

BearMarketHustler

· 9h ago

Coking coal drops 3.7%, to be honest, this wave is flashing red lights, steel mills are going to cut production --- Anyway, every time commodities drop like this, risk assets also crash hard, let's take it easy --- Wait, does this mean liquidity is tightening again? Can I still hold my BTC... --- The manufacturing slowdown signals are so obvious, the macro environment is a bit fierce, everyone --- 3.7% isn't much? Come on, this is already a crash in commodities, and it will continue to break new lows --- So now the question is, is the anti-inflation trade really cooling off? --- Steel mills are no longer buying steel, now investors in the crypto space should start to panic, get ready to cut losses, everyone

View OriginalReply0

TokenomicsTherapist

· 9h ago

Coking coal has fallen again, which is a sign that the macro environment is starting to shift. Steel mills are all hitting the brakes, and the construction chain is tightening. This wave of anti-inflation trades is probably losing momentum.

View OriginalReply0

BearMarketBuyer

· 9h ago

Coking coal dropped 3.7%, in simple terms, industrial demand is trembling... This signal is really something we in the crypto circle should pay attention to. Steel mills are reducing production, construction is not as hot anymore, and signs of a global economic slowdown are becoming more obvious. Is the anti-inflation trade cooling off? Friends still going all-in at this time should also wake up. Wait, does this mean risk assets are about to shift significantly... What should we be accumulating at the bottom?

View OriginalReply0