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China May Reduce Imports Due To Coal Price Upside Down

2010/12/30 9:09:00 46

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In December 29th, the monitoring data obtained by the reporter from Zhuo Chuang consulting, an industry consultative body, showed that since 24

International steam coal

The price of the three major ports rose sharply, breaking the mark of 120 US dollars / ton.

With Shanghai freight, the price of China's coal imports to Hong Kong has gone far beyond the Qinhuangdao coal price of 790 yuan / ton, and the price of imported coal has been upside down.

The next coal imports in China may be significantly reduced.

Since 2009 China has become

Net import of coal

Since the beginning of the year, the scale of coal imports has continued to expand.

Recently, however, the trend of coal price has been divided, and the price of coal has risen sharply.

According to Zhuo Chuang consultative report, there are four main reasons for this phenomenon:

First, the United States recently implemented loose.

monetary policy

The US dollar exchange rate continued to decline, contributing to the BJ spot price rise in US dollar terms.

Second, driven by favorable economic data from the US, international crude oil prices have risen slightly, causing an increase in pport costs, which indirectly led to the rise in coal prices.

Three, the number of exports of major coal exporting countries decreased compared with the same period last year.

Railway infrastructure and port facilities in Australia and Russia can not meet the demand for coal exports, and in recent years, the seasonal rainy season in Australia and the closure of Russian winter ports have reduced exports.

The four is the global economic recovery. The rising demand for coal in various countries is conducive to the rise of international coal prices.

China is a big coal producing country with overcapacity of coal.

Only when the international coal price is lower than the domestic coal price will traders import coal for the purpose of earning the difference.

As a result, international coal must enter into the Chinese market with a price advantage.

At present, as China's cooling season is postponed, coal consumption enterprises in various parts of the country are more abundant in stocks, and the national development and Reform Commission's price fixing measures, the domestic steam coal price has a slight pullback, and the late coal price rise is weak.

Under such circumstances, domestic coal consumption enterprises may slow down the pace of importing coal and adjust the coal purchasing strategy. In the wake of the Spring Festival, traders are faced with the pressure of capital recovery, and the atmosphere of market wait-and-see is strong.

In November 22nd, according to the data released by the General Administration of customs, China imported 13 million 880 thousand tons of coal in November, an increase of 12.6% over the same period, an increase of 9.1% over the same period last year.