On March 3, the new thermal coal price index showed that the thermal coal price index closed at 574 yuan/ton, down 1 yuan/ton month on month.
"Now the price is ten yuan lower than before the Spring Festival, but the activity is not high.There is a certain bearish expectation in the short-term market, and it is expected that the probability of coal price continuing to decline in the later period is relatively large.
In the view of analysts, the coal supply and demand pattern accelerated around the Spring Festival, and the port and the upstream and downstream coal inventory entered the repair stage.
At the same time, high-speed railway operation, with the gradual rise in temperature, railway and port connection speed.Recently, some coal enterprises and the general administration of railways signed a mutual guarantee agreement on coal transport volume and capacity, which will effectively ensure the stability of coal transport.Data shows that coal stocks at ports have climbed significantly, with 6.2 million tons of coal stocks at qinhuangdao port as of feb 28, up by 295,000 tons on a weekly basis.
More should be concerned about, thermal coal futures price discount intensified.As of February 28, thermal coal futures price discount widened.As the contract is about to enter delivery, it is expected to guide the spot price of the port down from both supply and price.