Last week, domestic thermal coal pit prices and port prices remained relatively stable; domestic coking coal prices continued to fall; as a result of seasonal factors, Qinhuangdao stocks further declined.
The latest issue of the Bohai Steam Coal Price Index closed at 626 yuan/ton, and the decline has narrowed. From June 10 this year to now more than a month, the Bohai Bay thermal coal price index fell from 770 yuan/ton. 626 yuan / ton, a drop of up to 18.7%, the impact on the coal market is quite serious. Constrained by cost pressures, some small and medium-sized thermal coal companies have stopped production at present, which has a positive impact on thermal coal prices. We expect the space for power coal prices to fall is not much, given that the downstream demand is still sluggish, the rebound level remains high. limited.
Since coal prices began to decline at the end of last year, domestic coking coal prices have repeatedly decreased the coking coal prices once after the continuous drop in thermal coal prices. Coking coal prices are much higher than thermal coal prices; even if the price of coking coal has been substantially reduced by the market before, coking coal prices still remain. Far above its production cost line, the possibility of limiting production insured prices is not significant. Due to the slowdown in fixed investment growth, foreign trade exports have further declined, and the fundamentals of the steel industry may deteriorate further in the second half of the year, alerting the possibility of sharply lower coking coal prices in the second half of the year. . This week, some coal listed companies released mid-term reports. The performance of open-pit coal, Xishan Coal, and Haohua Energy reported a year-on-year decrease of 9.84%, 11.16%, and 6.67% respectively. This is the first time since 2009 that coal listed companies have appeared. The overall decline in performance, and this is all or just the beginning, because the entire third quarter of coal prices have been down a step, so the overall performance of coal companies in the third quarter may have a double-digit decline.
The latest issue of the Bohai Steam Coal Price Index closed at 626 yuan/ton, and the decline has narrowed. From June 10 this year to now more than a month, the Bohai Bay thermal coal price index fell from 770 yuan/ton. 626 yuan / ton, a drop of up to 18.7%, the impact on the coal market is quite serious. Constrained by cost pressures, some small and medium-sized thermal coal companies have stopped production at present, which has a positive impact on thermal coal prices. We expect the space for power coal prices to fall is not much, given that the downstream demand is still sluggish, the rebound level remains high. limited.
Since coal prices began to decline at the end of last year, domestic coking coal prices have repeatedly decreased the coking coal prices once after the continuous drop in thermal coal prices. Coking coal prices are much higher than thermal coal prices; even if the price of coking coal has been substantially reduced by the market before, coking coal prices still remain. Far above its production cost line, the possibility of limiting production insured prices is not significant. Due to the slowdown in fixed investment growth, foreign trade exports have further declined, and the fundamentals of the steel industry may deteriorate further in the second half of the year, alerting the possibility of sharply lower coking coal prices in the second half of the year. . This week, some coal listed companies released mid-term reports. The performance of open-pit coal, Xishan Coal, and Haohua Energy reported a year-on-year decrease of 9.84%, 11.16%, and 6.67% respectively. This is the first time since 2009 that coal listed companies have appeared. The overall decline in performance, and this is all or just the beginning, because the entire third quarter of coal prices have been down a step, so the overall performance of coal companies in the third quarter may have a double-digit decline.
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