After the Bohai Rim thermal coal price index reached a record high last week, this week (October 19-25) continued to show an upward trend. The comprehensive average price of thermal coal for the 5,500-kilowatt market at the closed ports of the Bohai Rim closed at RMB 853/ton, which was RMB 6/ton higher than the previous reporting period. From September 7th to the current period, the average price of thermal coal in the Bohai Rim 5500 kcal market has risen by RMB 28/t, which has again set a new record since the index was released.
As of the week of October 21, the thermal coal price index of Newcastle Port in Australia decreased by US$2.69/tonne to US$118.10/tonne on the basis of US$120.79/ton in the previous week, and remained declining for six consecutive weeks. In addition to the Newcastle port coal price index, the other two major international thermal coal price indices also fell.
Li Ting, a coal analyst at the China Business Productivity Promotion Center, told Daily Economic News that according to the current exchange rate, Australia’s better-quality thermal coal prices are roughly 750 yuan, regardless of transportation fees and other expenses. About tons, while the domestic thermal coal price is higher than the international thermal coal price by RMB 100/ton.
The continuous high price of coal has brought pressure to power generation companies. On the 25th, Huadian Power International, Datang Power Generation, Huaneng Power International, and Shenzhen Energy all issued their third-quarter financial reports, which all recorded a year-on-year drop in profits. Taking Shenzhen Energy as an example, the company’s net profit in the third quarter decreased by 38.43% year-on-year to RMB 292 million.
Li Ting thinks: “After taking into account insurance fees, freight charges, etc., the purchase of foreign coal still has certain advantages. Australia’s coal calorific value is generally up to 6,500 kcal, which is much higher than the general thermal coal with a domestic caloric value of 5,500 kcal. Therefore, domestic power plants, especially those on the southeast coast, have a high degree of enthusiasm for purchasing thermal coal from overseas."
Li Ting also said that domestic imports have increased significantly, while international coal prices have also continued to fall, indicating that the international coal market still exceeds supply. It is estimated that the coal import volume in the later period will continue to increase, and it is expected that China's monthly coal imports in the fourth quarter may remain at 13 million to 15 million tons.
As of the week of October 21, the thermal coal price index of Newcastle Port in Australia decreased by US$2.69/tonne to US$118.10/tonne on the basis of US$120.79/ton in the previous week, and remained declining for six consecutive weeks. In addition to the Newcastle port coal price index, the other two major international thermal coal price indices also fell.
Li Ting, a coal analyst at the China Business Productivity Promotion Center, told Daily Economic News that according to the current exchange rate, Australia’s better-quality thermal coal prices are roughly 750 yuan, regardless of transportation fees and other expenses. About tons, while the domestic thermal coal price is higher than the international thermal coal price by RMB 100/ton.
The continuous high price of coal has brought pressure to power generation companies. On the 25th, Huadian Power International, Datang Power Generation, Huaneng Power International, and Shenzhen Energy all issued their third-quarter financial reports, which all recorded a year-on-year drop in profits. Taking Shenzhen Energy as an example, the company’s net profit in the third quarter decreased by 38.43% year-on-year to RMB 292 million.
Li Ting thinks: “After taking into account insurance fees, freight charges, etc., the purchase of foreign coal still has certain advantages. Australia’s coal calorific value is generally up to 6,500 kcal, which is much higher than the general thermal coal with a domestic caloric value of 5,500 kcal. Therefore, domestic power plants, especially those on the southeast coast, have a high degree of enthusiasm for purchasing thermal coal from overseas."
Li Ting also said that domestic imports have increased significantly, while international coal prices have also continued to fall, indicating that the international coal market still exceeds supply. It is estimated that the coal import volume in the later period will continue to increase, and it is expected that China's monthly coal imports in the fourth quarter may remain at 13 million to 15 million tons.
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