Recently, the coal market in the upstream producing area is still weak. Affected by the sluggish downstream demand, the sales of coal mines are still poor and the sales are severe. Some mines have restricted production due to top warehouses. In order not to affect production, they continue to cut prices and leave the warehouse. Coal prices have fallen back, sales have not improved, and there may still be a decline in the later period; due to the downward pressure on coal prices in the main production areas, short-term mines still hold pessimistic expectations.
Before the end of the month, the Bohai Rim ports had relatively concentrated users of inquiries, but the counter-offer was still low. The seller ’s quotation still had room for negotiation, but the decline in coal prices narrowed. At present, coal ships are concentrated in Hong Kong, and short-term coal demand is optimistic, which is not enough to support the real stabilization and recovery of prices, let alone the sharp rise in coal prices. The inventory of northern ports is still at a high level, and there are not many ships forecasted afterwards, and the demand is not connected. It is possible that this wave of demand is overdrawn in advance.
Subject to the overhaul of the Daqin Line in May, coupled with the expected increase in policy interventions, users have bottomed out their hearts, and the enthusiasm for pulling transportation has slightly increased; the coal pulling ships from the Bohai Rim to the port have increased, and the anchor ships at Qin Port have once risen to 32, and the port was transferred The increase in quantity, which is close to the quantity of coal transferred, has prompted the inventory of Bohai Rim ports to remain stable. As of now, China's top ten coal transportation ports in the Bohai Sea have a total stock of 29.03 million tons of coal, which is 520,000 tons less than a week ago.
The current coal-use season is low, some power plants are routinely overhauled, and the number of normally-used thermal power units is reduced. The superposition of the international epidemic has led to weak demand in the power and cement industries. It has also affected the consumption of the southern tertiary industry and residents, and the demand for coal has increased. Subject to certain restrictions, the daily consumption of coastal power plants has also rebounded relatively slowly. In the past week, the daily consumption of six coastal power plants has remained between 560,000 and 580,000 tons, a decrease of about 11% compared with the same period last year. Coal consumption has not increased significantly, and power plant inventories are still at a high level; up to now, the six coastal power plants have totaled 16.16 million tons of coal, a decrease of 90,000 tons from a week ago, and the number of days available for coal storage has remained at 28 days. The inventory of power plants is not low, the follow-up demand is weak, and the enthusiasm for procurement is still low.
Affected by the price stabilization policy, sentiment in the Bohai Rim port market improved temporarily, and the number of coal ships pulling in port increased slightly; sea freight rates rose, the spot spot price decline slowed down, and the coastal coal market appeared prosperous. However, the high level of downstream inventory is an indisputable fact. According to the current coal consumption of power plants, coal storage has covered the first and middle of May.
The temperature in the south has risen, and the load of civilian electricity has dropped. In addition, the purchase of electricity has increased, and the daily consumption of power plants in coastal areas has increased greatly. Against the backdrop of high inventories, it is expected that coal demand will continue to remain sluggish, and the situation of oversupply in the market will be difficult to fundamentally reverse. The situation of coal transportation in the later period is not optimistic.
