Excess supply in the hottest coal market intensifi

2022-07-27
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On the 10th, the comprehensive average price of thermal coal in the 5500 kcal market closed at 829 yuan/ton, down 2 yuan/ton from last week, the sixth consecutive week of decline, with a cumulative decline of 14 yuan/ton. In addition, as of August 1, the coal inventory of Qinhuangdao port has reached 8.195 million tons, just ten days

On the 10th, the comprehensive average price of thermal coal in 5500 kcal market closed at 829 yuan/ton, down 2 yuan/ton from last week, which is the sixth consecutive week of decline, with a cumulative decline of 14 yuan/ton. In addition, as of August 1, the coal inventory in Qinhuangdao port had reached 8.195 million tons, an increase of 1.2 million tons in just 10 days, which made the domestic coke market pressure which was already in a weak position increase sharply

affected by this, the coke futures price of the big commercial exchange continued to decline, and the signs of withdrawal of market funds became more and more obvious. At the close of trading yesterday, the number of bilateral positions in all coke contracts was only 4100, a new low since many customers bought the manhole cover pressure testing machine

the oversupply in the coal market has led to the continuous decline in the prices of coking coal and other varieties. "Coking coal market will remain weak in this stage." Zhou Zhaojie, a coking enterprise in Linhuan, Shandong, told futures that in a certain period of time, the domestic "coal coke steel" industrial chain will still be depressed, and the downstream demand outlook is difficult to be optimistic

it is understood that in July, the coal inventory of Qinhuangdao Port remained at a high level. According to zhuochuang data, the daily average inventory of Qinhuangdao port in July was 7.318 million tons, while the daily average inventory of Qinhuangdao port in June was only 6.2218 million tons. Due to the continuous increase of port inventory, the port coal price has been in a downward trend in July. After entering August, the port inventory is still at a high level

"high port inventory: after asking the operator of the tensile testing machine, the domestic coal market price has been continuously suppressed." Zhou Zhaojie said. In the past July, the coal price of major power plants along the river in East China continued to decline. Among them, the receiving prices of Datong Coal with 5500 and 5800 kcal calorific value in East China Yanjiang power plant were 885 yuan/ton and 925 yuan/ton respectively, a decrease of 5 yuan per ton compared with the previous period; The receiving price of Datong Coal with a calorific value of 5000 kcal was 785 yuan/ton, down 10 yuan/ton month on month

although the excess supply in the coal market has exerted obvious pressure on the coke price, the gradual recovery of the demand of downstream steel mills will boost the coke price to a certain extent. According to relevant market information, recently, coke prices in Shandong, Hebei and Shanxi provinces have begun to pick up. Some enterprises have raised their product prices, and other enterprises also plan to raise their prices

10, the domestic coke spot market became bullish, but the price was still stable. The ex factory price of secondary metallurgical coke in East China is about 1900-1980 yuan/ton under radiation; The mainstream price of secondary metallurgical coke in Shanxi is about 1750-1850 yuan/ton; The mainstream price of secondary metallurgical coke in Hebei is 1850-1900 yuan/ton. In this regard, Zhou Zhaojie believes that the regional recovery of coke price is mainly due to the demand recovery of the downstream steel plant. Should the inertia cover and pulley cover be opened regularly to remove the ash outlet under the flange. Recently, the domestic steel spot market has stopped falling and stabilized, the cost support has limited the space for steel price decline, and some steel mills have increased their demand for coke. However, whether the coke price can continue to rise depends on whether the future demand can continue to follow up. At present, the domestic coal market is still in an overall weak position, and the excess supply of coking coal will continue to suppress the coke price

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