On November 27th, the China Coal Industry Association issued a report saying that from November 18th to November 24th, the price of various spot thermal coals in the Bohai Rim region collected by CCTD Qinhuangdao thermal coal price showed signs of stopping, and the heat was low. The value of spot thermal coal prices rebounded slightly.
Among them, CCTD5500 closed at 609 yuan / ton, down 1 yuan / ton than the price released on November 20; CCTD5000 closed at 578 yuan / ton, up 1 yuan / ton than the price released on November 20.
According to the China Coal Industry Association, in fact, under the impetus of several positive factors listed in the previous two weekly reviews, the kinetic energy of spot thermal coal prices in the Bohai Rim region has begun to decline; with the influence of some of these positive factors This report period was further strengthened, which ultimately led to the overall price of spot thermal coal in the Bohai Rim region showing signs of stopping. With the passage of time, the winter peak characteristics of coal consumption continue to show. During the reporting period, the daily consumption level of coal in the six major power generation enterprises in the coastal areas has maintained an increasing trend. The average daily consumption level of coal has reached 642,000 tons, compared with November. From 1st to 7th, the daily average increased by 116,000 tons and increased by 22.0%. This situation further enhanced the support side of the consumption side for spot thermal coal prices.
At the same time, during the reporting period, domestic marine coal freight rates continued to rise, and the highest record for the year was continuously refreshed. The China Coastal Coal Freight Index on November 24 further climbed to 1319.2 points, up 81.1 points from November 17 The weekly increase reached 6.6%, indicating that the demand for thermal coal will remain active in the short term, and the support for spot thermal coal prices in the Bohai Rim region will continue to exist.
Chen Jie, an analyst at Yimei, said that in late November, market demand will gradually pick up. The northeast, north China and other places have been heating, the air conditioning load in Central China and East China increased, the demand for thermal coal began to increase, and the market became increasingly active. Although some energy-consuming enterprises have reduced peak coal production in winter, they have reduced the amount of coal used. However, benefiting from the release of the supply-side structural reform dividend, the profits of industrial enterprises will continue to improve, and China's economy will remain stable.
Chen Jie said that since the second half of this year, due to safety inspections, environmental protection and limited production, the release of high-quality coal production capacity has been affected, and market coal prices have remained at a high level. The combined commissioning capacity of the “Three West†region has reached nearly 320 million tons, and the actual production has been formed. The coal production and shipping have gradually improved, and the railway transfer will gradually improve. However, in winter, some areas are constrained by resources and transportation, or there will be a period of tightness. At present, at the time of the signing of the coal long-term association, the relevant state ministries and commissions have a strong willingness to stabilize the market coal price, and coal prices are expected to gradually return to a more rational range.
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