Coal storage capacity in major ports in China exceeds 20 million tons

According to the latest statistics from China Investment Consulting Network, the four major domestic coal ports—Qinhuangdao, Caofeidian, SDIC Jingtang, and Guangzhou Port—have 717, 221, 184, and 2.5 million tons of coal deposits respectively, a total of astonishing 13.72 million tons. Together with other port statistics, a conservative estimate of more than 20 million tons, inventory is much higher than a reasonable level. In view of the fact that the downstream demand is not strong, the railway department has actively adjusted the flow of vehicles in accordance with the situation of the deposits, equipment, and ships arriving at ports in Hong Kong, and has spared no effort to avoid further intensification of the phenomenon of port coal under pressure in Hong Kong.

“The average daily coal consumption of the national electric power companies in July is still lower than the average daily level in March.” The analysis report of the China Coal Market Network shows that since late April, heavy industry electricity consumption has dropped sharply, and southern China has plenty of rainfall, and hydropower generation has increased substantially. The increase also weakened the demand for thermal coal.

At present, the rare peak season of coal storage in power plants is also operating at a high level. In July, the State Grid adjusted the average daily coal supply capacity of the plant by 3.63 million tons, an increase of 15.86% year-on-year, with an average daily coal consumption of 3.53 million tons, an increase of 11.9% year-on-year, and an average daily increase of 100,000 tons of coal inventory. As of mid-August, the State Grid has adjusted 64.53 million tons of electricity coal stocks, and the available days are 18 days. The availability days of East China Power Grid and Guangdong Power Grid were 18 days and 21 days, respectively, which were both significantly higher than the average of the previous peak season.

The backlog of coal stocks has kept coal prices down. As of August 24, the latest price of the latest thermal coal car panel issued by Qinhuangdao Coal Network in Shanxi Province shows that the price of 5500 caloric thermal coal in Datong City of Shanxi Province is 580 yuan/ton, and the thermal coal price of 6000 calories is 620 RMB/ton, thermal coal price of 5,800 calories was RMB 595/ton, which was generally RMB 10/ton lower than last week. The price of 4800 kcal thermal coal bed plate in Quzhou was 410 yuan/ton, down 10 yuan per ton from last week; 5200 kcal thermal coal bed price was 520 yuan/ton, unchanged from last week .

This has been a continuous decline in coal prices for more than a month, with a single month's price drop of up to 10%. According to statistics, from July 12th to the present, in this round of price adjustments, the most significant decline was in the 4800 kcal calorific steam coal in Shanxi's Quzhou area, which has declined by 40 yuan/ton, a drop of 9.76%.