Qinhuangdao Coal Market Analysis Last Week

Last week (August 22 - August 28), the transfer amount of Qinhuangdao port coal railway kept rising for two consecutive weeks, and the port throughput ended the previous three consecutive rises.

According to the news from the Haigang Coalnet Port Center, last week, Qinhuangdao Port coal railways transferred a total of 5.113 million tons, a 32.21 million tons increase over the previous week (4.792 million tons), an increase of 6.7%, and the average daily coal transfer to 73.04 million tons. For the second consecutive week, it kept rising, and the overall recovery of 667,000 tons. Compared with the four weeks before the adjustment of the coal railway in Hong Kong straight drop of 698,000 tons, the amount of recovery increased significantly. The transferred amount of 795,000 tons on August 21 was also the highest value in Hong Kong for more than two months.

The volume of withdrawal will end the three-weekly upward trend. Last week, the amount of coal reclaimed in the port was 5.071 million tons, which was a decrease of 197,000 tons or 3.74% on a week-to-week basis. The average daily volume was 824,400 tons. In the previous three weeks, the total amount of coal reclaimed in Hong Kong rose by 1.30 million tons, an increase of 32.9%, which was mainly due to the release of the shipping capacity of the port, which had been inhibited from sealing.

The decline in port coal inventories has slowed down. Last week, Qinhuangdao Port had a daily average of 7.185 million tons of coal, which was 135 thousand tons less coal than Zhouhuan. As of August 27, the Qinhuangdao Port coal inventory was 7.165 million tons, showing a rebound from the same period last week and a slight increase of 40,000 tons. Qinhuangdao port coal inventories fell steadily over 1 million tons in more than one month and gradually stabilized.

Port anchorage ships stopped declining. Last week, the average number of ships to be loaded on the Qinhuangdao port anchorage remained at 128, an increase of 18 a week, an increase of 16.37%, and in the previous two weeks, the number of anchorage ships in the port dropped by 55.

Port coal prices continue to fall. The comprehensive average price of the Bohai-Sea thermal coal price index closed at 826 yuan/ton last week, and fell 2 yuan on a week-to-week basis, marking the eighth consecutive week of decline, with an overall decrease of 17 yuan.