Coal Industry Week Data and Analysis

This week, the thermal coal market in China showed mixed trends. At domestic ports, the Bohai Dynamic Coal Index dropped by 6 yuan/ton to 553 yuan/ton. Qingang thermal coal prices declined across the board, with Datong high-grade blended coal and other varieties falling by 10 yuan/ton. In Guangzhou, thermal coal prices remained stable, but domestic coal prices fell slightly, including a 20 yuan/ton drop for high-grade blending coal from Shanxi and a 15 yuan/ton decrease for Shenmu 1 coal. Power coal prices, however, saw an upward trend. Port inventory levels reflected some fluctuations. As of August 23, the Qinhuangdao port's stock decreased by 4.76% to 6,695,800 tons, still remaining relatively high. Meanwhile, the South Port and Guangzhou Port saw their inventories rise by 16.01% to 3.025 million tons as of August 16. On August 10, major power plants had 65.30 million tons of coal in stock, down from the end of July, with an available supply of 16 days. Despite some regional price adjustments, the overall thermal coal market remained subdued. Prices in the Datong area of Shanxi stayed stable, while high-calcium coal transactions were strong. In Changzhi, lean coal pit prices increased by 20 yuan/ton. In Shaanxi, some mining areas raised prices slightly, with northern Shaanxi seeing increases between 5–20 yuan/ton, mainly within Shaanxi Coal Group’s operations. Huangling and Binxian areas also saw price hikes of 10 and 15 yuan/ton, respectively. Coastal freight rates continued to rise since late July, increasing by 3.22% to 1,063.55 points as of August 16. Internationally, the BDI index rose by 5.72% to 1,165 points as of August 17. The cost of shipping from Theo to Qingdao increased slightly by $0.04/tonne to $9.30/tonne this week. In the metallurgical coal sector, the domestic coking coal market remained stable. The MySPIC Steel Price Index fell slightly by 0.34% to 133.14 points. Steel stocks in major cities continued to decline. However, the average daily crude steel output in China rose by 2.69% to 21.4 million tons as of August 10. Most steel mills maintained stable purchase prices for metallurgical coal. However, Jinan Steel reduced its procurement prices for Shandong 1/3 coking coal and Shanxi coal injection by 10 yuan/ton. Some large mines raised their listing prices slightly. On August 20, Shanxi Coking Chemical Co., Ltd. announced new pricing, with main coking coal up by 10–40 yuan/ton, fat coal up by 10–20 yuan/ton, Sanjiao village lean coal up by 10 yuan/ton, and official land injection coal up by 10 yuan/ton. Discounts were offered based on contract volumes, ranging from 20 to 40 yuan/ton. In Weifang, Shandong, coking coal procurement prices rose by 20–30 yuan/ton. The coal injection market operated smoothly, with steel mills maintaining high procurement enthusiasm and improving trading volumes. Prices in major producing areas remained stable. In Yunnan’s Zhaotong region, injection coal prices tightened slightly, rising by 30 yuan/ton. The anthracite market remained relatively stable this week, with transaction activity gradually improving. After starting at a low level due to weak downstream demand, the market is now showing signs of recovery. Some end-users have started to show interest again, especially given the low price levels, and some companies have begun purchasing small quantities to build up reserves.

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