国内动力煤价上涨，三大港口煤炭库存环比同比均下降明显

Core Insights - Domestic thermal coal prices increased month-on-month, while international offshore prices for thermal coal from Australia, South Africa, and Europe decreased [2][4] - Coal inventory at three major ports decreased both month-on-month and year-on-year, indicating a tightening supply [3][5] - Daily coal consumption by the six major power generation groups declined month-on-month and year-on-year, reflecting reduced demand [3][5] Inventory and Consumption - As of September 29, total coal inventory at Qinhuangdao, Huanghua, and Caofeidian ports was 12.188 million tons, down 2.137 million tons month-on-month, a decrease of 17.32%, and down 2.368 million tons year-on-year, a decrease of 18.84% [3] - Daily average coal consumption by the six major power generation groups was 839,800 tons, down 105,400 tons month-on-month, a decrease of 11.15%, and down 24,800 tons year-on-year, a decrease of 2.87% [3] Price Movements - As of September 30, the price of Shanxi mixed 5500 thermal coal at Qinhuangdao was 701.00 RMB/ton, an increase of 9 RMB/ton month-on-month, a rise of 1.30% [2] - International thermal coal prices showed a downward trend: Newcastle port price was $103.30/ton, down $6.40/ton month-on-month, a decrease of 5.83%; South Africa's Richards Bay price was $82.20/ton, down $6.60/ton, a decrease of 7.43%; and European DES ARA price was $91.30/ton, down $8.00/ton, a decrease of 8.06% [2] Production Trends - In August, coal production from key state-owned mines in Shaanxi, Shanxi, and Inner Mongolia showed mixed results: Shaanxi produced 21.119 million tons, up 360,000 tons year-on-year, an increase of 0.67%, and up 467,000 tons month-on-month, an increase of 2.26%; Shanxi produced 46.328 million tons, down 707,400 tons year-on-year, a decrease of 13.25%, but up 986,000 tons month-on-month, an increase of 2.17%; Inner Mongolia produced 18.214 million tons, down 33,000 tons year-on-year, a decrease of 0.18%, but up 378,000 tons month-on-month, an increase of 2.12% [2]