Since 2008, coal prices in Qinhuangdao have maintained a slight weekly decline, while coal inventories in Qinhuangdao have rebounded. International coal prices have also continued to decline in the past two weeks, with Newcastle Port coal prices falling below per ton last Friday.
According to data from China Coal Market Network, the closing price of Datong You blended coal with a calorific value of 5800 kcal/kg in Qinhuangdao decreased from 630-650 yuan/ton on January 5th to 600-620 yuan/ton on February 9th, a decrease of 30 yuan per ton. The prices of other varieties with different calorific values also experienced varying degrees of decline, ranging from 15 yuan/ton to 40 yuan/ton. Meanwhile, the coal inventory in Qinhuangdao has gradually increased recently, from 4.943 million tons on January 10th to 7.056 million tons on February 6th.
International coal prices have fallen for two consecutive weeks, with Newcastle Port coal prices dropping from .19/ton on January 23 to .17/ton on February 6, returning to below /ton once again.
However, the slight drop in coal market prices did not hinder the sharp rise of coal stocks on the 9th. On the 9th, the coal industry saw a growth rate of 5.56%, second only to the non-ferrous metal industry. Among them, International Industry and Guoyang Xinneng rose by limit, and the leading stocks China Shenhua and middling coal Energy rose by 2.65% and 6.01% respectively.
Analysts believe that the recent slight fluctuations in coal prices are already within expectations, and the limited space for coal price decline due to coal production restrictions in various regions has limited impact on the market. Meanwhile, according to coal industry insiders, although the coal prices at transit ports have declined, the actual prices at coal mine entrances have been stable and rising recently, rebounding by tens of yuan per ton from the previous low point.
With the gradual implementation of the national economic stimulus plan, the market is now re optimistic about cyclical industries such as non-ferrous metals and coal, and the slight fluctuations in coal prices do not affect stock price performance.