宝城期货动力煤早报-20250731

Group 1 - The investment rating of the report is not provided [1] Group 2 - The core view of the report is that in the peak summer season, with the seasonal increase in domestic thermal coal demand and the fermentation of positive news such as "anti - involution", the market sentiment is optimistic, driving coal prices up. It is expected that coal prices will remain strong in August [5] Group 3 Supply - As of July 18, the average daily output of raw coal from 462 sample mines nationwide was 5.697 million tons, a slight increase of 10,300 tons per day compared to the end of June [5] - According to SteelHome data, in the first two weeks of July, the arrival volume of seaborne coal in China was 10.864 million tons, with an average daily arrival of 776,000 tons, a significant improvement from 608,000 tons per day in June [5] Demand - In July, the coal consumption of power plants increased seasonally. As of July 17, the daily coal consumption of 8 coastal provincial power plants was 2.419 million tons, a weekly increase of 271,000 tons; the daily coal consumption of 17 inland provincial power plants was 3.911 million tons, a weekly increase of 360,000 tons [5] Inventory - According to iFind data, as of July 24, the total coal inventory of 9 ports in the Bohai Rim was 27.097 million tons, a weekly increase of 112,000 tons [5]