The price of coal in China has been rising for months, and it is still not “receding”. Due to the tight supply, more than a hundred trucks are waiting for coal at 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.
China’s power coal prices continued to surge higher on Jan. 18, said Liu Jinxu, a market analyst with China Yu Information. Due to the resurgence of the new crown virus epidemic, individual mines in the Shenmu area of Shaanxi suspended production and further tightened supply in the region. The remaining coal mines in production required drivers to present nucleic acid test reports within 3 days before entering the mines to pull coal. At present, most of the mines have no coal in stock, Yulin area coal prices increased again, the rate of increase is generally more than 10 yuan / ton, individual previously unadjusted price of large mines rose by 114 yuan / ton in a single day.
In addition, the coal ban affects China’s strong demand for other alternative energy sources, especially liquefied natural gas, which has also hit its highest price ever, making it difficult for the Chinese people to survive the winter as well.
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