Hangkou rises and the port falls. Can the price of power coal go up?

In recent days, there have been some divergences on the price trend of power coal. Some port traders are optimistic about the future market, and the tender sentiment is getting stronger; some port traders are not optimistic about the future market and speed up the pace of shipment. Think tanks today think it's best to wait and see at this stage, while selling is not necessary.

According to today's think tank Feng Mine's guidance price of power coal, on September 2, the FOB guidance price of three northern ports (Caofeidian, Qinhuangdao and Huanghua Port) was 582-583 CNY/ton for 5500 cards and 512-513 CNY/ton for 5000 cards, which stabilized for two consecutive days after a short fall, and the current spot price was basically in line with the monthly long-term price of large coal enterprises just announced.

The two prices are equal. Spot and the CPPCC have been close to each other. Spot can be stabilized under the background of the CPPCC's recent price adjustment, which is related to the insufficient continuous port transfer. As of last Friday, the inventory of the four ports around the Bohai Sea was 19.289 million tons, down 1.104 million tons from the previous week, a larger margin.

Think tanks today believe that the reduction of inventory in the Bohai Rim ports is mainly due to the increase of outbound volume and the decrease of inbound volume. Affected by the increase of environmental protection and safety inspection of coal mines in the main producing areas, the production and sales of coal mines are affected to a certain extent. The overall supply is relatively tight. In addition, affected by the inverted shipping, the enthusiasm of traders in shipping is low, and the import volume of ports is significantly reduced. And the tight supply in the mining area has been reflected in the pithead coal price. According to market information, Shanxi Coal's three mines, Caragana Tower Coal Mine, Hongliulin Coal Mine and Zhangjiayou Coal Mine in northern Shaanxi Province, all of the latest bidding prices have risen, with a maximum increase of 37 CNY/ton, and the prices of surrounding coal mines have risen to varying degrees. Today think tanks believe that bidding is one of the means to reflect the market supply and demand. It is an indisputable fact that pit supply is too tight from the results of trading. In the case of tight pit supply and imported coal, port power coal prices should have some support, and coal prices should be able to rise.