Coal prices at ports can't be carried anymore.

Last week, due to the continuous rise in coal prices at the pithead, the port coal price has declined slightly, which has led to a reduction in traders' profits; under the combined effect of the increase in rigid cost of coal and the weakening of coal demand, the coal quotation has been in a stalemate stage, the port open warehouse price is in a dilemma, and the coal price is relatively stable. Entering this week, the port coal price has finally been unable to bear, showing a sustained downward trend.

1. Railway freight and port miscellaneous charges were reduced. Affected by the lower freight charges of Tanghu Line, the freight charges of some coal mines transported to Caofeidian Port via Tanghu Line were reduced by 10%, and the basic freight charges were reduced by 22-24 CNY/ton. In addition, Caofeidian Port and Huaneng Port (Guotou and Huaneng) slightly reduced the port miscellaneous charges by 2 CNY/ton. Although the above measures to some extent improve the enthusiasm of traders in shipping, but in the case of market supply exceeds demand, it will increase the decline of coal prices.

2. Daily consumption of power plants did not show a significant recovery. This week, the six coastal power plants did not increase significantly as originally expected, but continued to maintain a position of about 600,000 tons; After Labor Day, the southern industrial power consumption was sluggish, the civil power load was not high, and hydropower entered an upward stage; downstream coal demand did not increase, and continued to maintain a flat trend, around Bohai Port. Coal-pulling vessels from port to port shall maintain a medium and low level.

3. Upstream coal supply increased. Although safety and environmental protection checks continued, upstream advanced production capacity was released, railway transportation of coal was accelerated, and the number of coal arrived in Hong Kong increased rapidly. Up to now, a total of 25.4 million tons of coal have been stored in the nine major ports around the Bohai Sea, an increase of 1.68 million tons compared with the beginning of the month; in particular, 9.06 million tons of coal have been stored in the three ports of Caofeidian, an increase of 1.44 million tons compared with the beginning of the month. The high inventory of shipping ports, to a certain extent, has curbed the rapid rise of coal prices.

4. The inventory of power plants continues to increase. Up to now, 78.23 million tons of coal have been stored in key power plants in China, and the available days of coal storage are 23 days; the total coal storage capacity of six coastal power plants is 15.78 million tons, and the available days of coal storage in power plants have risen to 26 days. Under the circumstances of accelerating production in major coal mines, ensuring supply, speeding up railway transportation, and gradually opening up imported coal, the stocks of receiving and unloading ports and power plants will continue to increase. Experiencing a period of rush transportation, cement and other industries pull the market coal quantity is not much, spot delivery is insufficient; coal demand continues to weaken, boosting individual coal traders in the summer before the arrival of low-price selling.

5. Temperature rises, approaching the spontaneous combustion period. Because of the rapid rise of temperature in the north, the highest temperature in Qinhuangdao area was close to 30 degrees Celsius yesterday, the spontaneous combustion period of coal in summer was approaching, and the pressure of port dredging increased gradually in the later period. At present, the storage of coal in Qinhuangdao and Huanghua Ports, with Changxie Coal as the main cargo, is basically in a reasonable position, and the trend of coal supply and demand is balanced. The Caofeidian Port, which is dominated by traders and has more resources in Inner Mongolia, has increased a little rapidly. Some coal is unsalable and needs to be sold at a lower price.