Coal prices in China have been rising for months.
The price of coal in China has been rising for several months and is still not “subsiding”. Due to the tight supply, more than 100 trucks are waiting for coal in several coal mines in Shaanxi and Inner Mongolia in China, and the queue of trucks stretches for kilometers.
On Monday (Jan. 18), the China (Taiyuan) Coal Exchange’s comprehensive trading price index reached 141.47 points, up 0.68% from the previous week, the 11th consecutive increase since Nov. 2, 2020; the latest China Coastal Coal Purchase Price Index (5,500 calorie power coal) was quoted at 729 yuan per ton, up 29 yuan per ton from the previous week.
Shanghai Securities News reported on Jan. 19 that the coal industry learned that in the last two days, more than 100 trucks were lined up in front of several coal mines in Shaanxi and Inner Mongolia, and the queue stretched for kilometers; a large number of coal vehicles were stranded in Inner Mongolia mines.
According to people familiar with the Bohai Sea port coal prices, a number of recent mainstream indexes reflecting the spot price of coal have been suspended, in fact, the port power coal offer is still frequently adjusted, the northern port coal transactions in the “thousand yuan coal” (coal prices more than 1000 yuan per ton), a record high.
On January 18, Chinese power coal prices continued to surge higher, said Liu Jinxu, a market analyst at China Daily. Due to the resurgence of the CCP virus epidemic, individual mines in the Shenmu region of Shaanxi suspended production, further tightening supply in the region, and the remaining coal mines in production required drivers to present a nucleic acid test report within 3 days before entering the mines to pull coal. At present, most of the mines do not stock coal, Yulin area coal prices again up, the rate of increase is generally more than 10 yuan / ton, individual previously unadjusted prices of large mines in a single day up to 114 yuan / ton.
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