Coal market deadlock is expected to be broken
The overall coal price is stable and declining, mainly because the traders and the downstream have the expectation of increasing production after Daqing. In addition, the concentration of imported coal to Hong Kong reduces the psychological pressure, increases the base gas, reduces the coal purchase in the market, and observes the increase of production and the change of coal price after Daqing. Considering the market's expectation of increasing production, as well as the fear of price and the worry about the later policy, most traders dare not continue to purchase and ship. There are also consignors who store coal in the early stage, in order to deal with the later variables, take the initiative to reduce the sales price, leading to a drop in the port price. Since last week, the inventory of Beigang has gone through a week of rapid destocking. The inventory of QinGang has dropped to 4.26 million tons, and that of Caofeidian four ports is 8.56 million tons; Coupled with seriou...