Power Coal: The Temporary Cool Yield Recovery of the Market has become evident

In August, due to the influence of typhoon, the increasing rainfall weather, the daily consumption of power plants or difficult to maintain at a high level, coupled with the high inventory of power plants, coal prices are difficult to rise. Coastal power plant daily consumption fell below 700,000 tons on the 5th, and the rapid decline in daily consumption hit bulls'confidence. Traders'expectations of increasing purchasing at the advent of high daily consumption of power plants have fallen short and their mood is poor. At the same time, the demand for coal inquiry procurement in the terminal market is gradually weakening, and it is difficult for traders to deliver goods and the turnover is cold. In the latest market, coal inquiries in the port market have decreased, with some power plants purchasing mainly coking coal, coupled with short-term inventory digestion, the demand for coal in the purchasing market has slowed down; traders purchasing coal in the market based on the sentiment of "buy up but not buy down", the demand for coal has also slowed down, and upstream suppliers have increased their willingness to ship based on weak demand. Explore the price. On the import of coal, although some power plants have recently tendered for Indonesian coal, the demand support is weak due to the devaluation of the RMB and the decline of coal consumption in domestic power plants, the terminal underpricing is obvious, and the importer's wait-and-see increases. On August 5, the latest CCI power coal price of China Coal Resources Network showed that CCI5500 power coal price was 590 CNY/ton, 2 CNY/ton lower than the previous price, 25 CNY/ton or 4.1% lower than the same period last month; CCI5000 power coal price was 514 CNY/ton, 1 CNY/ton lower than the previous price, 20 yuan lower than the same period last month./ Tons or 3.7%. On the downstream side, as of August 6, the six coastal power plants had 17.324 million tons in stock, a reduction of 253,000 tons in cycle ratio, an increase of 2267,000 tons over the same period of last year; coal consumption was 685,000 tons per day, a decrease of 75,000 tons over the same period of last year, a decrease of 124,000 tons over the same period of last year; the available days were 253 days, and the cycle ratio increased by 22 days, an increase of 6.7 days over the same period of last year. A power plant in Jiangsu said that the unit load of the power plant has dropped to 65% due to the recent decline in daily consumption, the supply of Changxie coal is sufficient, and the stock is ready to be digested in the short term. Spot can be said that there is no demand. This month, the large group 5500 months long association 599 yuan, is also to give some support to the market, coal prices are not expected to fall sharply. Now CV5500 dynamic coal quotation 589-590 yuan is relatively common. Low-calorie coal is now in short supply, low-water coal is in demand, and the price is firm. In fact, the recent fluctuation in coal prices is mainly a small fluctuation trend, not a real price increase.

In recent days, high temperature weather has led to a significant increase in daily consumption of power plants, and some traders have begun to bid up, driving coal prices up slightly. However, the real demand for coal has not risen. It is known that the main users of inquiries and purchases in the port are small enterprises such as chemical industry, and the capacity of power plants is not large. In addition, at the end of July, large coal groups lowered some coal prices in August, which also affected the mindset of market traders to a certain extent. With the end of hot weather and the decline of daily consumption, coal stocks in the port market have been under pressure on prices. It is pointed out that the current downstream inventory structure, and UHV transmission, continue to depress prices rebound height, with the pit and shipping costs down, port price support will follow. Overall, although the market is expected to have a concussion pattern due to the impact of the mine disaster this year, it may gradually be converted into a concussion downward pattern. However, it is not excluded that prices are subject to sudden changes due to the contradiction between replenishment at different stages and the supply of imported coal. From the point of view of the place of production, the price of coal in the main place of production rises and falls mutually. The prices in Yulin, Shaanxi Province and Ordos, Inner Mongolia are stable as a whole. The demand for coal blending and inland power plants is still acceptable. The market demand for ports is poor. Some coal prices have risen or fallen by 5-10 yuan. Coal mines believe that the downstream demand is limited and the support for the rise of coal prices is not strong. Tongshuo area in northern Shanxi followed the slight drop in port market prices, Xinzhou area coal prices were stable, coal mine shipments were normal, inventory was low.