Steam coal price consolidated this week (10.8-10.14)

According to the monitoring data of the business community, the price of steam coal was consolidated this week. On October 13, the energy index was 1173 points, up 1 point from yesterday, down 24.86% from the peak of 1561 points (2021-10-21) in the cycle, and up 129.55% 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)

 

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In terms of production area, affected by the epidemic situation and safety production reduction, most coal mines now provide long-term coal, and the market supply is still tight. The supply decreased, and the market trading atmosphere was fair. However, due to the impact of public health events, the export of coal has been affected, and the price has fluctuated.

 

In terms of downstream ports, traders’ quotations are relatively firm, but they are mainly wait-and-see. In addition, during the overhaul of Datong Qinhuangdao Railway, the traders maintained a high price mentality.

 

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Macro: The National Bureau of Statistics announced on the 27th that from January to August 2022, industrial enterprises above designated size will achieve operating revenue of 87.89 trillion yuan, an increase of 8.4% year on year. The business income of mining owners was 4458.15 billion yuan, up 31.6% year on year. Among them, the main business income of coal mining and washing industry was 265.359 billion yuan, up 45.1% year on year; The oil and gas exploitation industry was 840.46 billion yuan, up 46.6% year on year; The ferrous metal mining and beneficiation industry was 334.38 billion yuan, down 19.0% year on year; The nonferrous metal mining and dressing industry was 222.31 billion yuan, with a year-on-year growth of 17.4%; The non-metallic mining and dressing industry was 272.08 billion yuan, up 4.7% year on year; Other mining industries were 1.31 billion yuan, up 54.1% year on year..

 

Analysts from the business community believe that: the production of steam coal in the origin area is affected by the safety inspection and epidemic situation, the coal output has declined, and the coal supply is tight. In terms of downstream ports, most of them are strong. And it is less likely that the winter coal reserve will fall soon. However, considering the impact of superimposed policies, it is expected that steam coal prices will mainly fluctuate, depending on the downstream market demand.

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