环渤海动力煤价格指数报收于693元/吨

Core Viewpoint - The market for thermal coal in the Bohai Rim is showing signs of stabilization after a period of decline, with the price index reported at 693 yuan/ton, down by 2 yuan/ton from the previous period, indicating a slowing down of the downward trend and a potential bottoming out of prices [1] Group 1: Market Dynamics - The demand for thermal coal is expected to increase due to steady heating needs and low-temperature weather forecasts, which are driving up daily consumption at power plants [1] - Coastal power plants have seen a 13% increase in daily consumption compared to the beginning of the month, signaling a seasonal uptick in electricity demand [1] - The supply of domestic coal is tightening as some major production areas have completed their annual production targets and are reducing output or entering maintenance phases [1] Group 2: Inventory and Pricing - Despite a slight decrease in port inventories, they remain at high levels, which continues to suppress prices, compounded by a market sentiment of "buying on the rise, not on the fall" [2] - The available days of coal at coastal power plants have dropped to a reasonable low level, with inventories at power plants still relatively high, indicating that the pressure to deplete stocks has not fully eased [2] - The demand for low-calorie coal is recovering first, while the acceptance of high-priced market coal remains low among end-users, suggesting that short-term price rebounds may be limited [2]