Reduced port loading, coal price decline is expected to slow down

From: Junnan Steel News
publisher: Gloria Wong
Time: 2018-08-07
Summary: In recent days, there have been some new changes in the thermal coal market, which are highlighted by the reduction in port transfers and the rebound in futures.

    In recent days, there have been some new changes in thethermal coal market, which are highlighted by the reduction in port transfersand the rebound in futures.

    According to the monitoring data of relevant websites, thedaily average transfer volume of thermal coal in the Bohai Sea port is about1.85 million tons, which is almost 100,000 tons less than the daily averagelevel in July. The specific reasons are related to the reduction of shipmentsby traders after the current port hung price is reversed, but whether it isrelated to the coal production in the mining area remains to be furtherobserved.

    At the same time, in the spot market, coal prices have beenfalling, the price of thermal coal futures began to rebound last Friday. Today(August 6), the intraday high price of Zhengzhou 1809 contract has exceeded 600yuan / ton, and The spot price of the same quality 5,500 kcal low-sulfur coalin the Bohai Sea port is almost 585 yuan / ton, and the futures have alreadyrisen from the spot.              

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