Core Insights - The spot price of thermal coal at ports decreased by 14 CNY/ton this week, closing at 690 CNY/ton [2] - The average daily inflow of coal to the four ports in the Bohai Rim region increased by 10.25 million tons, a rise of 5.93% compared to last week [2] - The average daily outflow of coal from the same ports rose by 10.76 million tons, marking a 6.01% increase from the previous week [2] - The total inventory at the Bohai Rim ports decreased by 18.40 million tons, reflecting a decline of 0.79% [2] Supply Side - The average daily inflow of coal to the Bohai Rim ports was 182.99 million tons, indicating stable supply from production areas [2] - Port supply volume showed a slight increase this week [2] Demand Side - The average daily outflow of coal from the Bohai Rim ports reached 189.67 million tons, with a notable increase in the number of anchored vessels to 106, up by 12.71 vessels or 13.63% [2] - The demand appears to be weakening as the peak season approaches its end, leading to a potential pressure on inventory depletion [2] Inventory Status - The total inventory at the Bohai Rim ports stands at 2308 million tons, which is slightly down from last week [2] - The overall inventory value at the ports has decreased, but the drop in coal prices is attributed to the weakening downstream demand as the peak season concludes [2] Market Outlook - The coal industry is entering the end of the peak season, with residential electricity demand gradually weakening [2] - Short-term coal prices are expected to remain volatile due to the strong supply and weak demand dynamics [2]
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