Under the influence of production restriction policies and boosting demand, the coal futures “three brothers” coking coal, thermal coal, and coke futures all set new highs. “Big coal users” represented by coal power generation and smelting have high costs and cannot. According to a reporter from the Shanghai Securities News, 17 of the 26 listed coal power companies are viewed from the left and right sides, and 5 companies are in good condition at all times.
Supply pushes up coal prices
This year, the prices of coke and coke have set new historical records. After the main coke price broke through the 3000 yuan ton mark in August this year, it has hit a new high of 3657.5 yuan/ton since the recent mid-market, which has increased by 70% from the low point. The price performance has reached 78%.
Over the weekend, the main contract for coke was 3655.5 yuan/ton, an increase of 7.28%; the main coking coal contract closed at 290.5 yuan/ton, an increase of 7.37%; the main contract for thermal coal closed at 985.6 yuan/ton, an increase of 6.23%.
The China Coal Industry Association issued a “Coal Operation Status” circular, stating that economic coal prices have been operating at a high level. From January to July, the average medium and long-term price is 601 yuan/ton, which is predicted to increase by 62 yuan/ton.
What causes the price of coal to rise again and again? From the perspective of suppliers, due to factors such as safety and environmental protection, production in major domestic production areas has been low. Recently, major coal mines in major production areas have undergone major investigation and remediation activities, and the coal market supply may be further tightened. On the demand side, coking steel companies are not diminished in their enthusiasm for purchasing raw coal, and it is still difficult for coking companies to replenish inventory for some of the supplied coal types.
The person in charge of the company called out “demand exceeding expectations”. The person in charge said that although the heating season is the same day, in the future coal needs a tighter balance and the price may increase, the company actively produces on the basis of following the production control policy. , The release of coal production capacity at all stages.
Pressured “big coal users”
Hubei Energy recently stated frankly on the investment platform: “The increase in coal prices will adversely affect the company.” In the semi-annual report, it said that the company’s thermal power companies have more power generation than in the near future, but the increase in fuel costs will not increase the profits of thermal power companies. Decrease, in the case of income growth, it may decline significantly.
According to rumours, under cost pressure, a single coal-fired power generation company has begun to actively demand an increase in electricity prices. The appeal. The staff of the Huaneng International Securities Department said that the consequences would be serious and the cost of coal would be high, and the price of electricity would directly be the company’s revenue.
According to data from the China Electricity Council, a small number of coal power companies have significantly expanded their personalities, and some power generation groups have more than 70% of their personalities. Light and shadow save the overall image.
In addition, Conch Cement, due to the severe deterioration of coal prices, showed a significant increase in production advantages and a decline in the company’s profits. Conch Cement’s self-portrait was displayed concurrently at 804.33, representing 8668%; the projection of Conch was 149.51, with a concomitant decrease of 6.96%.
Evergreen Group stated on the interactive platform on September 2 that for the recent increase in coal prices, the company has begun to change the project, such as improving the equipment efficiency of the project through technology, reducing coal consumption, etc., and trying its best to control the increase due to the increase in coal prices. cost.
The price of coal during the government festival has been renovated. It is understood that due to intensive policy adjustments, Inner Mongolia State-owned Mining Corporation and Group Corporation have recently begun to reduce prices one after another, and coal and coal power futures have also seen a slight margin.