Prices of northern ports are expected to continue to fluctuate next week

According to the monitoring data, China's coal price index (the national composite index) was 156.4 points on September 20, down 0.4 points from the previous period. On the port side, the market supply is on the tight side, some traders do not ship much, waiting for the impact of maintenance to deepen, and the bullish mood of the market warms up. On the production area, most of the coal mines in the production area are in normal production, and the coal price is stable as a whole, and the miners are mostly on the lookout for the future market.

Coking coal market, the recent stringent environmental inspection, which affected the production of some areas, contraction is tight, the market is expected to be in shock in the short term. At present, it is expected that the price of northern ports will continue to oscillate next week.

Towards the end of September, the weather is getting cooler and cooler, the end coal consumption is decreasing seasonally, and the peak season is approaching the end. In the case of high inventory, the purchasing rhythm of power plants is relatively slow, and coal price support is weakened. In the long run, on the eve of National Day, the impact of environmental protection and security inspection in the main producing areas has gradually decreased, and the anticipated tight supply of coal upstream has been realized. The expectation of coal consumption falling seasonally is further strengthened, and it is expected that coal prices will mainly fluctuate in the period before the national day.

[Bohai Rim Port] As of September 19, the total inventory of the four major ports in the Bohai Rim was 2.302 million tons, a decrease of 47,000 tons compared with last week. After the Mid-Autumn Festival, the overhaul of main coal-carrying railway corridors began. At the same time, with the advent of Daqing, the security inspection and environmental protection inspection of production areas became increasingly stringent, production activities were limited, traders were affected by costs, and shipping enthusiasm was poor. Overall, supply in the coastal market contracted and bullish sentiment in the market warmed up. On the other hand, as the weather falls, the downstream power plant units enter the maintenance period, and the daily consumption is significantly reduced. Buyers and sellers have entered a game period, and subsequent coal prices may oscillate.

[East China. As for coking coal, the market continues to operate weakly, and most of the coal enterprises'stocks are still rising. Some mining areas continue to reduce prices in view of inventory pressure. At present, prices in some areas have been lower than those of the Association of Mining Directors, which is expected to further pressure the sales of large mines.

[North China Region] Due to the high inventory of downstream steel mills, the demand of coking enterprises is better under the high start-up rate. At the same time, after the second round of price reduction, the steel mill's repression mood slowed down, and the coke enterprises made up a small margin of the depot. However, downstream inventory is still at a high level, and demand is not expected to change much in the short term. Before National Day, due to the restriction of pyrotechnics in some areas, production may stop, supply will shrink, and prices will fluctuate slightly. In terms of power coal, the price of coal in North Shanxi is relatively stable. Due to strict environmental safety inspection, some small mines may be shut down in the later period, and coal supply will be tightened. The price is expected to rise slightly.

[Northeast, Eastern Mongolia] The market is rising steadily, and prices in some areas may still rise slightly later. After the Mid-Autumn Festival, with the cooling of the weather, residential electricity consumption has gradually decreased. This week, the overall power load in the Central-South region shows a downward trend, power plant start-up units have also been reduced by 9 units, and the overall inventory continues to decline weakly. As of September 19, the total coal storage capacity of power plants in Hubei Province was 4.458 million tons, down by 21,000 tons from last week.

[Northwest China]Coal prices in Yushen area of Shaanxi Province are relatively stable as a whole, with some low-price resources rising slightly. In recent years, demand in downstream areas is relatively large, mine shipments are stable, and stocks are at a low level. Ordos area before the National Day coal pipe ticket pyrotechnics restrictions are strict, how many coal mines reduce production, is expected to have a small part of the coal mine shutdown later, the current supply is slightly tight, coupled with the upstream enterprises in the near future active stockpiling, coal prices may rise slightly in the short term. With the advent of Daqing, coal mine safety supervision in Sichuan and Yunnan has been further strengthened, environmental protection inspection has been more stringent, coal supply in coal mines has been restricted to a certain extent, and market pressure has continued to increase.