Coal prices in power coal metallurgical production areas have dropped significantly

Sources said that the performance of the domestic coal market remained weak this week: due to overproduction and coal demand, coal prices have generally declined. In thermal coal, coal prices in the major thermal coal producing base in Datong, Shanxi Province, fell significantly. Coastal port prices remained flat this week. Port prices began to be transmitted to inland areas. In terms of ports, they were transferred to and fell slightly, and demand for coastal power plants remained weak. The volume rose slightly. In the downstream, the daily coal consumption of the six major power plants gradually recovered after the holiday, inventory of the six major power plants declined slightly, and the number of days available for storage of coal recovered to about 24 days. However, the overall demand for the six major power plants remained low, and daily coal consumption was still not at the level before the Spring Festival. . In the case of metallurgical coal, the price of coal produced in this week continued to show significant adjustments in some regions, among which the price of coal injected in the Changzhi region dropped by RMB 60; the anthracite market remained stable for the time being. The recent rebound in financial stocks has caused cyclical stocks to fluctuate, but the fundamentals are deteriorating rapidly in the short term. We are still relatively optimistic about the reform of state-owned enterprises: Yanzhou Coal, Anyuan Coal, Panjiang Stock, SDIC Xinji, Yunmei Energy, China Shenhua.

The price of coal in major producing areas fell steadily, and Qingang's thermal coal prices remained flat: the price index of thermal coal in the Bohai Rim was lower than that in the previous week; the price of thermal coal and Qinhuanggang ports fell compared to the previous month; the coal price of major thermal coal producing areas was flat, and the international thermal coal The price of the three major ports have risen and fell; the prices of coking coal production areas have been steadily falling; the prices of anthracite-producing origins have remained flat on a quarter-on-half basis; the prices of coal-injection origins have remained flat.

The spot price of Brent crude oil fell, and the domestic and international coal price gaps fell. The spot price of Brent crude oil fell by $4.97/bbl to $54.89/bbl, a drop of 8.30%. As of February 20, after the thermal value was unified as tons of standard coal, the current international oil price and international coal price ratio was 3.52, up by 0.05; the ratio of international oil price to domestic coal price was 3.12, unchanged from the previous month. According to the calorific value of tons of standard coal, as of February 20th, Australia's BJ coal shipments arrived at China's simulated calculation price was 58 yuan/ton higher than Shanxi's premium blended shipment arrived at Guangzhou port (5,500 kcal). 9 yuan/ton.

Qingang transferred into and out of decline, port stocks rose: Qingang coal daily average amount of imports fell 11,000 tons to 564,000 tons / day, a decrease of 1.9%. The average daily volume dropped by 60,000 tons to 535,000 tons per day, a decrease of 10.0%. Qingang stocks fell by 20.0 million tons to 7.910 million tons, a rise of 2.6% from the previous quarter. Among them, domestic trade coal fell by 200,000 tons to 7.910 million tons, a year-on-year increase of 2.6%.

The daily average consumption of coal in power plants increased, and the inventory of power plants rose slightly: the average daily coal consumption of the six major power plants rose by 131,000 tons to 561,000 tons, a 30.01% increase from the previous period. As of December 20, daily average coal consumption of direct power supply plants rose by 482,000 tons to 3.82 million tons, a year-on-year increase of 14.4%. The inventory of the six major power plants fell by 286,000 tons to 134.167 million tons, a decrease of 2.09% from the previous month, and the days available for storing coal fell back to 24.43 days. As of December 20, direct power supply plant stocks fell by 330,000 tons to 96.16 million tons, a decrease of 0.34% from the previous month, and the available days for depositing coal fell to 25 days.

Domestic ocean freight decreased slightly, while international ocean freight declined slightly: the average sea freight of major domestic routes fell by 0.15 yuan/ton to 23.74 yuan/ton, a decrease of 0.63%. Australia-China coal sea freight (load 150,000 tons) fell by US$0.132/ton to US$4.409/ton, a decrease of 2.9%.