According to SunSirs, the price of thermal coal rose last week. At the beginning of the week, the average port price of thermal coal was maintained at 657.75 RMB/ ton, while at the end of the week, the average port price of thermal coal was maintained at 700.75 RMB/ ton, up 6.54%, 29.05% year-on-year. On March 25, the steam coal commodity index was 82.62, up 1.11 points from the previous day, down 33.90% from the highest point of 125.00 points (2021-01-19) in the cycle, and up 84.83% from the lowest point of 44.70 points on January 20, 2016. (Note: period refers to 2011-09-01 to now).
Macro: according to the data released by the National Bureau of statistics on March 24, the national coal prices rose and fell in mid March. The specific price changes of all kinds of coal were as follows: anthracite (washing block, volatile matter≤8%) price was 950 RMB/ ton, the same as the previous period. The price of ordinary blended coal (Shanxi pulverized coal and lump coal blended coal, calorific value 4500 kcal) was 485.4 RMB/ ton, up 18.8 RMB/ ton or 4% over the previous period. The price of Shanxi's better quality blended coal (calorific value 5000 kcal) was 555 RMB/ ton, up 24.7 RMB/ ton or 4.7% over the previous period. The price of Shanxi high-quality blended coal (calorific value 5500 kcal) was 635 RMB/ ton, up 31.6 RMB/ ton or 5.2% over the previous period. The price of Datong blended coal (calorific value 5800 kcal) was 660 RMB/ ton, up 26.6 RMB/ ton or 4.2% over the previous period. The price of coking coal ((sulfur content< 1%) was 1482.9 RMB/ ton, down 57.1 RMB/ ton or 3.7% compared with the previous period. According to the above data, the anthracite price remained stable in mid March, the price increase of themal coal further expanded, and coking coal fell again.
SunSir analysts believe that: at present, the daily consumption of power plants is rising, driving the demand of power plants for thermal coal replenishment. As the good sales of origin, thermal coal prices have good support, prices rise.
