SunSirs: The Price of Thermal Coal turn to be weak, with Both Positive and Negative Effects brought by Weather Factors
June 16 2023 09:16:05 SunSirs (Selena)
The trading atmosphere in the production area has weakened, prices have been weak and stable, and some regions have seen inventory growth again, resulting in reduced production. Port prices continue to decline in a narrow range, but the decline has expanded, and traders' willingness to ship has gradually increased. Due to the impact of the exchange rate, the inversion of Indonesian coal prices has expanded, and the advantage has decreased. There is a gap in the counteroffer prices between the buyer and seller, and transactions are mainly filled with short orders. Southwest and South China will frequently encounter moderate to heavy rain, local heavy rainstorm, and hydropower may continue to improve. Many areas in the north are experiencing high temperatures, with temperatures exceeding 40℃ in some areas, and there is still support for civilian demand. The daily consumption has increased, and the inventory of major provinces and cities has slightly decreased and stabilized. The load of coastal power plants has increased, and some demand for replenishment has been released. The enthusiasm for upstream and downstream shipping and transportation is not high, with a slight increase in outward shipments compared to inward shipments, and a narrow reduction in port inventory. Industry inventory is high, with long-term cooperative supply and foreign trade replenishment, supply remains relatively strong, water and electricity are gradually recovering, coal prices continue to be under pressure, and prices may fluctuate weakly before the summer solstice.
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