Development and Reform Commission: The power plant’s coal storage is expected to exceed 110 million tons in 3 days and the available days will reach 20 days

According to news from the National Development and Reform Commission on October 31, in order to implement the decisions and deployments of the Party Central Committee and the State Council on ensuring coal supply and price stabilization and ensuring the warmth of the people through the winter, the National Development and Reform Commission and relevant departments have taken multiple measures to promote coal mines to tap the potential and increase production. The parties have jointly made efforts to increase market supply, and the work of maintaining coal supply and price stabilization has achieved initial results, and the national coal supply and demand situation has improved significantly.

Data show that the country’s coal production has increased significantly. Since mid-to-late October, the country’s daily average coal output has remained above 11.5 million tons for several consecutive days, an increase of nearly 1.1 million tons from the end of September, reaching a maximum of 11.72 million tons, the highest daily output in recent years. The spot price of coal futures declined rapidly.Thermal coalMain forceThe contract fell for 8 consecutive days, with a cumulative decline of 50.9%, and closed at 970 yuan/ton on October 29. The closing price of 5500K thermal coal at the port has dropped to below 1,500 yuan/ton, and the price of 5500K thermal coal at the pithead has dropped below 1,200 yuan/ton, a drop of nearly 1,000 yuan within a week. Coal storage in Qinhuangdao Port exceeded 5 million tons. The coal yard inventory of Qinhuangdao Port has steadily increased, especially after the completion of the overhaul of the Daqin Line, the coal intake has increased significantly.

With the gradual improvement in the supply and demand situation, the level of coal storage in power plants nationwide has rapidly increased. Since October 5, the coal supply of power plants nationwide has exceeded coal consumption for 25 consecutive days. Since October 19, the coal supply of power plants has exceeded coal consumption by more than 1 million tons. Recently, the coal supply has exceeded 8 million tons for several consecutive days, reaching the highest level. The historical peak of 8.32 million tons was 2 million tons more than coal consumption. The coal storage level reached 106 million tons, an increase of more than 28 million tons from the end of September, and it was usable for 19 days. Among them, coal storage in power plants in the three northeastern provinces has exceeded 12.7 million tons, nearly double that at the end of September, and the number of days available has increased to 32 days. Calculated based on the recent coal supply level, the power plant’s coal storage is expected to exceed 110 million tons within 3 days, and the available days will reach 20 days, which will lay a good foundation for ensuring the safe supply of electricity and the warmth of the people through the winter.

(Source: China Securities Journal·China Securities Network)

Article source: China Securities Journal·China Securities Network

Editor in charge: DF537

Original title: National Development and Reform Commission: Coal storage in power plants is expected to exceed 110 million tons in 3 days and the available days will reach 20 days