According to the monitoring data of SunSirs, the price of thermal coal was weak last week. On November 13, the energy index was 1,143, unchanged from the previous day, 26.78% lower than the highest point of 1,561 (2021-10-21) in the cycle, and 123.68% higher than the lowest point of 511 on March 1, 2016. (Note: the cycle refers to the period from December 1, 2011 to the present)

In terms of origin, the price of thermal coal is weak, and the market trading atmosphere is general. The operation is affected by public health events and safety production reduction, and the price of thermal coal is weak. The overall supply guarantee and long-term coal cooperation in the market are good, and the market is in a strong wait-and-see mood.

In terms of downstream ports, traders' quotations are weak, and they mainly take a wait-and-see attitude. In addition, the shipment volume of Daqin Line is still limited due to maintenance. Downstream customers are generally motivated to pick up goods, with few deals, and generally accept high prices. The daily consumption of the power plant remained stable, and the inventory remained high.

According to the monitoring of the Ministry of Commerce, the national coal price declined slightly from October 31 to November 6, including 1,586 RMB/ ton, 973 RMB/ ton and 1,499 RMB/ ton of No.2 anthracite lump coal, thermal coal and coking coal, down 1.1%, 0.1% and 0.1% respectively. The price of steel has decreased, including 4,297 RMB/ ton, 4,054 RMB/ ton and 4,131 RMB/ ton for ordinary medium plate, deformed steel bar and hot rolled strip, down 1.9%, 1.8% and 1.7% respectively.

According to the analysts of SunSirs, the market transaction of thermal coal in the origin area is relatively ordinary due to the impact of safety inspection and public health events. In terms of downstream ports, the downstream is still mainly wait-and-see for thermal coal, generally accepting high prices, and the market is deadlocked. The overall purchasing enthusiasm of the market is average, and it is expected that the price of China thermal coal will be dominated by weak operation, depending on the downstream market demand.

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