SunSirs: China Thermal Coal Price was Weak Last Week (April 22-26)
April 28 2024 11:13:04 SunSirs (Selena)
According to the commodity analysis system of SunSirs, the price of thermal coal was weak last week. On April 25th, the energy index was 988 points, a decrease of 1 point from yesterday, a decrease of 36.71% from the highest point in the cycle of 1,561 points (2021-10-21), and an increase of 93.35% from the lowest point of 511 points on March 1st, 2016. (Note: The cycle refers to 2011-12-01 present)
In terms of origin, the overall production and sales of thermal coal remain normal, while the market is generally weak. Still focusing on implementing long-term cooperative shipping. Some coal mines have completed their production tasks this month, and the overall coal supply level has slightly decreased. Traders tend to maintain a cautious wait-and-see attitude due to their average willingness to ship due to their uncertainty about the future market.
In terms of downstream ports, the market is operating weakly and overall transactions are average, with relatively low demand for goods. The data shows that as of April 24th, the inventory of the eight ports around Bohai Sea was 21.643 million tons, an increase of 60,000 tons compared to the previous day. The inventory of power plants is relatively high, and daily consumption remains at a low level. Downstream, long-term cooperation and on-demand replenishment are still the main methods.
SunSirs analysts believe that in terms of origin, long-term cooperative shipping should be implemented as the main approach, and non electricity demand should be purchased on demand. In terms of downstream ports, the trading atmosphere is deadlocked, and coal prices are operating weakly. Overall, it is expected that the price of thermal coal will continue to fluctuate, depending on downstream market demand.
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