According to the monitoring data of the business community, the price of thermal coal fell overall this month. On November 29, the energy index was 1114 points, down 5 points from yesterday, down 28.64% from 1561 points (2021-10-21), the highest point in the cycle, and up 118.00% from 511 points, the lowest point on March 1, 2016. (Note: the cycle refers to the period from December 1, 2011 to the present)

The overall price of steam coal in this month is weak. In terms of production area, affected by epidemic situation and safety reduction, coal mines are mainly responsible for long-term coal supply. In addition, the overall coal price fell by 50-100 yuan/ton, and the overall trading atmosphere in the market was average. Due to the influence of public health time, it is difficult to ship coal, and the wait-and-see mood is strong. In terms of downstream ports, traders’ quotations are weak, and they mainly take a wait-and-see attitude. In addition, the shipment volume of Daqin Line is still limited due to maintenance. Downstream customers are generally motivated to pick up goods, with few deals, and generally accept high prices. The daily consumption of the power plant is stable and the safety stock is maintained.

The National Bureau of Statistics announced on the 27th that from January to October 2022, industrial enterprises above designated size will achieve an operating revenue of 111.78 trillion yuan, up 7.6% year on year. The business income of mining owners was RMB 5589.51 billion, up 22.5% year on year, and the growth rate continued to narrow. Among them, the main business income of the coal mining and washing industry was 332.036 billion yuan, up 28.8% year on year, 9.2 percentage points lower than that of the previous month; The oil and gas exploitation industry was 1048.21 billion yuan, up 42.5% year on year; The ferrous metal mining and beneficiation industry was 411.62 billion yuan, down 19.1% year on year; The nonferrous metal mining and dressing industry was 284.61 billion yuan, up 15.9% year on year; The non-metallic mining and dressing industry was 350.04 billion yuan, up 4.1% year on year; Other mining industries were 1.6 billion yuan, up 56.9% year on year.

Analysts from the business community believe that the overall price of steam coal fell in November, and the market trading atmosphere was weak. At present, the coal mine is still mainly guaranteed to supply coal for a long time. There are few marketable resources in the market, and the quotation of traders declines. However, with the sudden drop in temperature, the power plant still has a demand for coal replenishment. It is comprehensively predicted that steam coal will be dominated by the later or stronger operating market, depending on the downstream market demand.