I. price trend
According to the monitoring of business association, the price of power coal continued to remain weak last week (11.18-11.22). At the beginning of the week, the price of power coal was around 559 yuan / ton, and at the end of the week, it was around 558 yuan / ton, with a slight decline of 0.18% overall.
II. Analysis of influencing factors
With the arrival of domestic winter heating season, the domestic demand for power coal has improved, which has certain support for the price of power coal. According to the business agency, as of November 21, the inventory of six coastal power plants was 16.7227 million tons, with a daily consumption of 640500 tons and a usable life of 26.1 days.
The number of imported coal in China has decreased from a month on month basis. In the short term, power coal will be supported from the supply side. According to the latest data released by the General Administration of customs, in October 2019, China imported 11.53 million tons of power coal (including bituminous coal and sub bituminous coal, but excluding lignite, the same below), an increase of 2.47 million tons year on year, an increase of 27.26%, a decrease of 2.02 million tons month on month, a decrease of 14.91%. From January to October 2019, the total import of power coal was 107.05 million tons, an increase of 5.24 million tons, or 5.15%.
III. future forecast
Business analysts believe that: on the one hand, the supply of power coal is still sufficient, on the other hand, with the arrival of winter heating season demand has improved, overall, the price of power coal will maintain a weak balance in the short term.