Jingu Finance News: Coal stocks collectively under pressure, Green Leader (00061) fell by 10%, Mongol Mining (00975) fell by 9.87%, Southgobi (01878) fell by 8.48%, China Shenhua Energy (01088) fell by 4.91%, China Coal Energy (01898) fell by 4.99%, Kinetic Dev (01277) fell by 4.42%, Yankuang Energy (01171) fell by 4.29%.
GTJA Futures stated that, overall, the current spot quote of thermal coal shows a weak and stable running trend. In terms of production, coal mines mainly purchase for rigid demands such as supply protection and chemical industry, with a few coal mines with significant price reductions showing some improvement in shipments. However, with the spread of price-reduction sentiment, most coal plants and terminals slow down the purchase to accelerate destocking, and some coal mines see no significant improvement in sales after price reductions. Also, under the condition of reluctance to buy at a high price, but eagerness to buy at a low price, the prices still face pressure. As for the ports, a small amount of demand was released at the end of the month, stabilizing the prices temporarily. However, after the end of this wave of demand, with the decreasing daily consumption, downstream inquiries may lead to relatively high price pressure. Therefore, under the current weak dual supply and demand background, it is difficult for thermal coal prices to have further upward drive, and a cautious oscillation approach is recommended.
