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The Downward Pressure On The Coal Economy In The Second Half Of The Year Still Exists

Date: 07/08/2020   View: 23  Tags: Downward Pressure Coal Economy
In the second half of the year, uncertainty in the coal market and downward pressure on the coal economy still exist.
Shi Ying introduced that in July, supply and demand in the coal market were relatively stable and prices fluctuated.
The data shows that the production and sales of key monitored coal companies have declined, while coal inventories in all links are relatively high.
In mid-to-early July, the association's key monitoring coal enterprise output has completed a total of 92.92 million tons, which is basically the same month-on-month and a year-on-year decrease of 2.77 million tons (-2.9%). From 1st to 28th, the sales volume of key coal enterprises was 180 million tons, a decrease of 3.92 million tons (-2.1%) from June.
As of the end of July, the total coal inventory is expected to be 373 million tons, an increase of 12.22 million tons (3.6%) month-on-month; an increase of 11.8 million tons (3.3%) year-on-year; an increase of 45.5 million tons (13.9%) from the beginning of the year.
Among them, the key monitoring of coal mines is 14.9 million tons of coal, a decrease of 210,000 tons (-1.4%) from the beginning of the month; the inventory of integrated power plants exceeds 140 million tons, an increase of 6.8 million tons (5.0%) from the end of June, an increase of 6 million from the same period last year. Tons (4.4%); The Transportation and Marketing Association monitors the coal inventory of 50 key steel coking companies, which is 7.49 million tons, a decrease of 290,000 tons (-3.7%) from the end of June and a year-on-year increase of 550,000 tons (7.9%).
Shi Ying introduced that coal consumption in July is expected to be about 340 million tons, a year-on-year increase of 1.8%. Among them, the power industry consumes 180 million tons of coal, a year-on-year increase of 1.3%, the steel industry consumes 60 million tons of coal, a year-on-year increase of 11.0%, the building materials industry consumes 50 million tons of coal, a year-on-year decrease of 1.3%, and the chemical industry consumes 25 million tons of coal, a year-on-year increase of 11.0%. An increase of 1.0%.
Regarding the operation of the coal market in the later period, Shi Ying said that domestic coal supply capacity is guaranteed, and the role of mid-to-long-term contract "ballast" is further manifested. The recovery of the macro economy will support the recovery of coal demand. Under the influence of multiple factors, the demand for thermal coal will continue to fall. 

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