Home Business The overall purchasing enthusiasm of the market is generally expected to be dominated by weak thermal coal prices. Thermal coal_Sina Finance_Sina.com

The overall purchasing enthusiasm of the market is generally expected to be dominated by weak thermal coal prices. Thermal coal_Sina Finance_Sina.com

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The overall purchasing enthusiasm of the market is generally expected to be dominated by weak thermal coal prices. Thermal coal_Sina Finance_Sina.com

Source: Jintou.com

According to the monitoring data of Business Club, this week (11.7-11.11)thermal coalPrices are running weakly. On November 13, the energy index was 1143 points, the same as yesterday, a decrease of 26.78% from the highest point in the cycle of 1561 points (2021-10-21), and an increase of 123.68% from the lowest point of 511 points on March 01, 2016. (Note: The cycle refers to 2011-12-01 to the present)

In terms of production areas, the price of thermal coal was weak, and the market trading atmosphere was general. The operation was affected by public health events and safety production cuts, and the price of thermal coal was weak. The overall market guarantee of supply and long-term coal supply is relatively good, and the overall wait-and-see mood of the market is strong.

In terms of downstream ports, traders’ quotations weakened, and they were more of a wait-and-see attitude. In addition, the Daqin line was overhauled, and the shipment volume was still relatively limited. The downstream buyers are generally less motivated to acquire goods, with fewer transactions, and they are generally more accepting of high prices. The daily consumption of the power plant has remained stable, and the inventory is now maintained at a high level.

According to the monitoring of the Ministry of Commerce, last week (October 31 to November 6) the national coal price fell slightly, among which No. 2 anthracite lump coal, thermal coal, refiningcoking coal1586 yuan, 973 yuan and 1499 yuan per ton, down 1.1%, 0.1% and 0.1% respectively. Steel prices have declined, among which ordinary medium plates,Rebar4297 yuan, 4054 yuan and 4131 yuan per ton of hot-rolled strip, down 1.9%, 1.8% and 1.7% respectively.

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An analyst from the business community believes that thermal coal in the origin is affected by safety inspections and public health events, and the market transaction is relatively general. In terms of downstream ports, the downstream is still mostly on the sidelines of thermal coal, and the acceptance of high prices is generally low, and the market is running in a stalemate. The overall purchasing enthusiasm of the market is general, and it is generally expected that the price of thermal coal will be weak, depending on the downstream market demand.

(Article source: Business Club)

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