Slow increase in daily consumption of power plant is not enough to support price

Recently, the daily consumption of the six major power plants in the coast has rebounded slightly, but the inventory is still at a high level, the demand for purchasing and replenishing warehouses is not large, and the support for coal prices is insufficient.

is now in the off-season of coal use, and the stocks of various industries are relatively abundant, the demand for electricity and coal is limited, and the short-term downstream will continue to be dominated by mild pulling. The data of

show that from late April to May Day holiday, the average daily coal consumption of the six power plants in coastal areas dropped significantly below 600,000 tons, which is close to the lowest level in the same period in the past five years. After the May Day holiday, the recovery of daily coal consumption is slower than expected.

On May 14, 2019, the daily consumption of six major coastal power plants was 602,800 tons, an increase of 0.4 million tons over the end of last month, a decrease of 63,000 tons over the same period last year; the usable days of coal storage were 2632 days, an increase of 0.6 days over the end of last month, an increase of 65 days over the same period last year; and the inventory of 15,866,000 tons, an increase of 466,000 tons over the end of last month, an increase of 267,000 tons over the same period last year.

In addition, this year, due to El Nio phenomenon, precipitation in southern China is more than in previous years. Hydroelectric power generation may maintain a high-speed growth, and the substitution effect for thermal power is obvious. According to the data released by the National Bureau of Statistics

in March, the National Hydroelectric power generation increased by 22% year on year, while the thermal power generation increased by only 1% year on year.

The enthusiasm of downstream haulage is not high, and the coal stocks in transit ports are also at a high level under the condition of efficient railway transportation.

On May 14, 2019, the total stock of the four harbor areas around Bohai Sea was 22.813 million tons, an increase of 130,000 tons over the previous day, an increase of about 637,000 tons over the end of last month, an increase of about 4 million tons over the same period last year, of which 6.6 million tons were stored in Qinhuangdao Harbor, a decrease of 0.5 million tons over the previous day; 8.34 million tons in Caofeidian Harbor, an increase of 170,000 tons over the previous day; 5.85 million tons in Jingtang Harbor, a decrease of 38,000 tons over the previous day. 。 Huanghua Port has 2.023 million tons in stock, an increase of 0.3 million tons over the previous day. Under this circumstance, the power plant grasps the rhythm of replenishment, slows down the procurement process with the strategy of price reduction, the trader's price-fixing mentality loosens, and the port coal price maintains a weak operation.

According to the understanding of China Coal Resources Network, the demand of port inquiry is mainly low calorific value coal, while the quotation in the upstream is rising slightly considering factors such as cost and tight supply of some kinds of coal, but the acceptance in the downstream is limited, the mentality of suppliers and demanders is divergent, and the transaction is limited. < p > < p > On May 13, Fenwei CCI power coal price showed that CCI5500 cards closed at 619 CNY/ton, down 2 CNY/ton from the end of last month, and CCI5000 cards closed at 526 CNY/ton, up 2 CNY/ton from the end of last month.