| | After more than four months after falling sharply, domestic coal prices ushered in returning to the rise. Although the market environment has not been fundamentally improved, but imports to shrink and expand the area of coal producing regions discontinued, driven by a weak thermal coal prices rebounded.
The first increase in 16 weeks
Net index from seaborne coal Center released the latest Bohai thermal coal price index (BSPI) shows the benchmark index as the average price of steam coal 5500 kcal current close to ¥627 / ton, compared with the previous one slightly rose ¥1 / t appears that the index rose for the first 16 weeks.
Among them, the low-quality coal prices rise again, continue to be a rebound, "leader." Seaborne coal Network Index Center data show that 4500 calories Qinhuangdao coal price of ¥440 ~ 450 / ton, up ¥5 / ton, also the third consecutive week of gains coal prices. 5000 kcal heat thermal coal price of ¥530 ~ 540 / ton, 5,500 kcal heat thermal coal price of ¥620 ~ 630 / ton, unchanged.
However, high-quality coal prices continued to decline. Among them, steam coal 5800 kcal of heat last week continued to fall ¥5 / ton, ¥670 to 680 / ton, also the coal prices fell for four weeks. Currently, the Qinhuangdao Port coal calorific value 5500 kcal market transaction prices remained at the level of quasi-¥625 / ton, compared with "electricity" price-cap level is low ¥175 / ton.
From a historical trend, the 5500 kcal heat thermal coal market, the average price of 13 weeks experienced a continuous decline in the flat for 3 weeks after the first rise, but rose only ¥1 / ton, indicating that the Bohai Sea regional market coal prices underpowered.
Imported coal scale first drop in six months
Weak domestic coal prices rebounded behind the decline in the scale of thermal coal imports are undoubtedly important one push hands. From the General Administration of Customs statistics show that in July 2012 China’s coal imports amounted to 24.27 million tons, a decline of 10.74%. This is China’s coal imports rose six months after the first drop.
Zhongyu Information analyst Off Italy, said in July showed the first decline in imports of coal, mainly due to a substantial decrease in domestic coal prices and international coal price difference narrowed. In the current weak domestic demand for coal, domestic coal prices to regain advantage, making the price advantage of imports weakened squeezed living space, many coal traders began to reduce foreign orders, so the number of imported coal occurs in July this year, for the first time decreased.
As of August 24, Australia Newcastle Port thermal coal price index was 91.5 U.S. dollars / ton; South Africa Richard Port thermal coal price index for 88.14 U.S. dollars / ton; European ARA three Hong Kong market coal price index was 93.96 U.S. dollars / ton. "International Coal CIF (CIF) price is basically the same price of domestic coal to the port." Off Italian said.
International coal prices fell sharply, directly linked to China’s coal imports. This year, Australia’s Newcastle port BJ cumulative average price of thermal coal fell 22.3 percent, into July, the international coal prices began to stabilize after a slight shaking up and down. From the import situation, the first six months the number of imported coal is growing rapidly, July decline. Statistics show that from January to July this year, China imported 164 million tons of coal, an increase of 55.5%. The year is expected to more than 250 million tons of coal imports.
But the total is still a large inventory decline
In addition to the decline in the size of imports into August, China’s major coal ports made the number of stored coal showed a rapid decline. Currently, each port inventory decreased to varying degrees, to ease the pressure on the coal market oversupply, and play an active role to ensure coal prices stabilized. As of August 24, the Bohai Rim four Hong Kong’s total coal stocks at 15.727 million tons, representing a decrease of 803,000 tons last week, a decline of 4.9%. Qinhuangdao Port coal which total inventory of 6,562,000 tons, representing a decrease of 168,000 tons last week, a decline of 2.5%.
Before comparing the stored coal situation, August 1, Qinhuangdao port coal storage 8,140,000 tons; July 16, Qinhuangdao port coal storage 8,570,000 tons; July 1, Qinhuangdao port coal storage 8,570,000 tons. As can be seen from the data, the Qinhuangdao Port coal storage dropped significantly, the overall decline for the northern port coal storage play an important role. In particular, into August, the number of Qinhuangdao Port coal storage decreased rapidly.
"In early August, after continuous heavy rainfall, mainly fat pile position collapses coal port, unloading, stacking difficulties; railway authorities were forced to reduce traffic, Datong-Qinhuangdao line number into the car for 7 days decreased by about half, resulting in early August, transferred to the port coal decreased. "Qinhuangdao coal network to the sources, is expected in late September Datong-Qinhuangdao line to be launched in the second round of the" open marriage "overhaul, then, transferred into the Datong-Qinhuangdao line of coal cars would be reduced, will open daily from coal 120 ~ 125 tons down to 95 to 100 tons, Qinhuangdao port coal input will still decline.
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