Power price index into the stable period

Recently, with the completion of the maintenance of the Daqin Line, the early-stage power plant restocking paragraph, the current power plant inventory has improved, the Bohai-Ring dynamic coal price index rose after three consecutive, in the short term will tend to be stable.

The recent increase in thermal coal prices both at home and abroad has raised optimism in the market. The price index for the Bohai Bay thermal coal, which was announced on Wednesday, continued to rise again. It rose by 4 yuan/ton compared with last week, and it recently closed at 537 yuan/ton, which has risen for three weeks. Previously due to seasonal factors such as the maintenance of Daqin Line and the approaching of winter, power plants have entered into the stock-repair cycle, and the three major coal enterprise groups represented by China Shenhua, China Coal Group and Tongmei Coal Group successively increased their ex-factory prices, domestic thermal coal. The price has risen three times.

At the same time, the current round of domestic thermal coal prices continue to be transmitted to the international market. According to the Shanghai Securities News, as of October 25, the three major thermal coal ports in Australia, the Newcastle Port thermal coal price index, South Africa, Richard Port Power The coal price index and the European ARA three-port market thermal coal price index rose by 3.56%, 5.96% and 6.73% respectively from last week. The increase in international thermal coal prices has been stimulated by seasonal factors on the one hand, and Indonesia is about to enter the rainy season. On the other hand, the improvement of China's thermal coal market has also played a role in fueling the rise of thermal coal prices both at home and abroad.

The Datong-Qinhuangdao line will be overhauled in the autumn and thermal coal prices will enter a stable period. On October 28th, with the completion of the autumn maintenance of the Datong-Qinhuangdao Line, the early-stage power plant made up a temporary inventory of inventory, and the overall power plant inventory has improved. Affected by this, thermal coal prices will enter a stable period. According to statistics, as of October 25, the total inventory of six major power plants was 12.125 million tons, an increase of 0.95% from the same period last year; the total daily consumption of the six major power plants was 622,400 tons, an increase of 0.25% from the same period of last year; 19.81 days, compared with the same period last week increased 0.1 days, the power plant available days is basically stable.

The short-term steam coal price entering the stable period does not mean that it will return to the decline in the future. With the winter approaching, the northern and central western regions will usher in collective heating, and daily coal consumption will increase further. In addition, from a historical point of view, generally the end of November the power plant entered a new round of make-up inventory cycle, when the domestic thermal coal prices are expected to rise again.