迎峰度夏沿海煤炭市场价格持续上涨

Core Viewpoint - The coastal coal market is experiencing a sustained price increase due to seasonal demand peaks and structural supply-demand imbalances, with the Qinhuangdao coal price index rising to 663 yuan per ton, up 1 yuan from the previous period [1][2]. Demand Side - The National Energy Administration reports that since the beginning of summer, China's electricity load has reached historical highs twice, with 10 provincial power grids hitting new records 22 times [1]. - Coastal power plants have consumed over 2 million tons of coal daily for 13 consecutive days, driven by rising temperatures and increased electricity demand, indicating a strong purchasing trend in the coastal coal market [1]. Supply Side - Recent regulatory pressures and local rainfall have impacted coal production and sales activities in major coal-producing areas, leading to tight coal supplies and rising prices in these regions [1]. - The arrival of coal at ports in the Bohai Rim has shown a fluctuating decrease, with some ports experiencing a phenomenon of ships waiting for cargo, highlighting structural supply issues despite stable inventory levels [1]. Market Outlook - The coastal market is expected to enter a phase of stalemate as coal production in major mining areas normalizes and nationwide rainfall and cooling reduce electricity consumption, alleviating structural supply-demand issues [2].