The cold wave drives the demand for coal, and the market pressure is still there

2023-12-20 10:32

Recently, the cold wave continued to exert force, driving the daily consumption of power plants around the country to further significantly increase, and some areas even hit a new high; However, the cold wave affected the coastal ocean surface of the wind, fog and other weather, in the case of poor coastal transport conditions, the power plant passive storage. According to the data, up to now, the daily consumption of the six major coastal power plants has risen to 875,000 tons, setting a new high since late August this year. Inventories have fallen to 13.17 million tonnes, the lowest since early May this year. The number of days available has fallen to a relatively low of just over 15 days. The daily consumption of power plants in eight coastal provinces has also soared to a high of more than 2.2 million tons, and the inventory has declined significantly. In this case, some power plants do have replenishment demand


Meteorological information shows that from 18 to 21, there will be a new strong cold air from north to south affecting the central and eastern regions, the next ten days, the average temperature in most areas of our country is lower than the same period of the year 2 ~ 4℃, of which North China, Huanghuai, Jianghuai, Jianghan, Jiangnan and other places are lower than 6℃. In the next 11-14 days, the average temperature in central and southern North China, Huanghuai, Jianghan, Jianghuai, Jiangnan, South China and Southwest areas is still 1-3℃ lower than the same period of the year. From the perspective of port inventory, it still remains high, so after the end of the consumption peak on the day, the pressure from the inventory may be cashed in on the price. While the cold wave did boost demand, from a price point of view, the emotional impact of the cold wave may still be higher than the actual impact. For the price of thermal coal in the future market, the pressure is still there, and there is no room for upward movement.