According to the monitoring data of SunSirs, the price of thermal coal is weak last month. On December 30, the energy index was 1,084 points, unchanged from yesterday, down 30.56% from the highest point of 1,561 points (2021-10-21) in the cycle, and up 112.13% from the lowest point of 511 points on March 1, 2016. (Note: the cycle refers to the period from December 1, 2011 to the present)   

In terms of origin, the price of thermal coal is weak, and the market trading atmosphere is general. Most of the coal mines in the main producing areas mainly rely on guaranteed supply and long-term cooperation of coal, and with the major inspection of coal in winter, the overall supply of coal is limited. The market is in a strong wait-and-see mood as a whole. The downstream multi-dimensional companies mainly hold the demand for procurement, and some coal mines are in general shipment.

In terms of downstream ports, as the temperature drops, the transportation will be affected. The downstream is also generally purchased. Most of them purchase long-term coal. The market sales are not smooth, the port price is weak, the market purchasing mood is weak, and the downstream is generally motivated to take goods, so there are few deals. The end users' demand for thermal coal is limited as a whole, mainly relying on long-term coal mining, with a wait-and-see attitude, and the overall market is weak.

The National Bureau of Statistics announced on the 27th that from January to November 2022, industrial enterprises above designated size will achieve an operating revenue of 123.96 trillion RMB, up 6.7% year on year. The business income of mining owners was 6131.89 billion RMB, up 18.6% year on year, and the growth rate continued to narrow. Among them, the main business income of the coal mining and washing industry was 3,625.59 billion RMB, up 22.3% year on year, 6.5 percentage points lower than that of the previous month; The oil and gas exploitation industry was 1,153.71 billion RMB, with a year-on-year growth of 40.2%; The ferrous metal mining and dressing industry was 440.67 billion RMB, down 19.5% year on year; The nonferrous metal mining and dressing industry was 321.93 billion RMB, up 14.8% year on year; The non-metallic mining and dressing industry was 392.21 billion RMB, up 3.4% year on year; Other mining industry was 1.72 billion RMB, up 55.0% year on year..

Analysts from SunSirs believe that the overall sentiment of thermal coal in the production area is average, the market transaction is average, and the purchase of long-term cooperative coal is mainly. In terms of downstream ports, the downstream is still mainly wait-and-see for thermal coal, and the purchase enthusiasm of power plants is average. With the decline of port coal price, the downstream is mainly wait-and-see for coal price depression. It is comprehensively predicted that the thermal coal price will be dominated by weak operation in the later period, depending on the downstream market demand.

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