Oil And Coal Fell, With Collapse And Plasticization Market! PE, PP Fell Over 300

▶ The National Development and Reform Commission interviewed some coal companies with inflated prices, and thermal coal fell

At the beginning of the new year after New Year's Day, thermal coal prices ushered in a new round of rising market! After the holiday, it rose by more than 15% on the 2nd! At this time, the National Development and Reform Commission made another "emergency shot"!

On February 9, the National Development and Reform Commission and the National Energy Administration jointly convened a meeting to arrange and continue to stabilize the coal market price. They also reminded some companies whose coal prices were found to be inflated by monitoring, and asked for immediate inspection and rectification.

The meeting emphasized that coal production enterprises should resume normal production and supply as soon as possible, strictly implement the national policy requirements of ensuring coal supply and stabilizing prices, further raise awareness, strengthen enterprise self-discipline, and regulate price behavior. For those who still do not rectify after being reminded, they will further study and take measures such as investigation and accountability; local relevant departments should strengthen monitoring reports, timely publicize and interpret policies, and promote stable operation of coal prices within a reasonable range.

Yesterday afternoon, relevant units in Inner Mongolia said, "All coal enterprises carefully analyze the current supply and demand situation, strictly control the rise in coal prices, and ensure the stable and orderly development of the coal market."

Then there are coal mines to cut coal prices. The pulverized coal price of a coal mine in Inner Mongolia is 700 CNY/ton, and the raw coal price is 700 CNY/ton. And it will be implemented at 17:00 on February 9th. Since January 27, the coal mine's pulverized coal price has been 835 CNY/ton, and the raw coal price has been 835 CNY/ton.

It is reported that in response to the rapid rise in domestic coal spot and futures prices not long ago, the National Development and Reform Commission has paid close attention to the changes in coal prices, and has held a special meeting to deploy the work of stabilizing coal production, supply and price during the Spring Festival. At the same time, in conjunction with relevant departments, it will further strengthen the regulation and supervision of market prices, severely crack down on illegal pricing behaviors in the spot and futures markets, and ensure that coal prices operate within a reasonable range.

▶ The Iranian nuclear talks resumed, and the crude oil market fell from a high level

On Wednesday, Feb. 9, the U.S. and Iran resumed indirect talks that could revive an international nuclear deal that would allow Iran to increase oil exports. In addition, the Russian-Ukrainian crisis is expected to cool down temporarily after Macron's mediation, and international oil prices began to fall, falling by more than 2%!

Affected by this, the domestic futures market was even more bleak. Domestic crude oil futures fell by 2.08%, PP fell by 3.15%, PE fell by 3.16%, PVC fell by 0.83%, ethylene glycol fell by 4.65%, and styrene fell by 2.83% .

However, according to the latest EIA crude oil inventory data, crude oil inventories in the United States fell by 4.7 million barrels, and crude oil inventories fell to the lowest value since October 2018. At the same time, the inventory of strategic reserves also fell to the lowest value since 2003, which boosted market sentiment, and oil prices began to stop falling and rebound. In addition, North America will also face a new round of cold wave in mid-February, so weather factors also bring uncertainty to oil prices.