Thermal coal prices are stable. The coal deposits of power generation enterprises continued to increase this week, and thermal coal prices remained stable at a high level as demand stabilized.
The transit price of coal rose slightly. On October 28th, the transfer of Qinhuangdao Datong high-quality mixed 910 yuan / ton, 5000 kcal Shanxi large mixed 730 yuan / ton, remained stable; 5500 kcal Shanxi excellent mixed 865 yuan / ton, up 5 yuan / ton this week.
Coking coal prices are stable. This week, the steel market is undergoing low consolidation and the coke market is operating weakly. However, the time required for transmission from the steel and coke markets to the coking coal market needs to be delayed. In addition, the coking coal resources integration in some provinces is still underway, and the supply side is limited, so coking coal prices remain. smooth.
The price of injected coal remained stable. On October 31st, prices in Changzhi, Yangquan and Shouyang remained stable.
Smoke-free raw coal and lump coal prices are stable. On October 31st, the prices of anthracite such as Jincheng and Yangcheng remained stable.
International Coal Price: Australian Coal BJ prices are lower. On October 31, the spot price of Australian BJ was US$121.6/ton, which was US$2.15/ton lower than before the holiday. Coking coal prices in the Asia-Pacific region fell this week: October 31, Cape Coking Coking Coal FOB price of 238 US dollars / ton, this week fell 5 US dollars / ton. Qingdao port imported coking coal CIF price of 257 US dollars / ton, this week fell 4 US dollars / ton.
Secondary metallurgical coke prices fell slightly. On October 31st, prices of Taiyuan, Tianjin, Linyi, Jiexiu, and first grade metallurgical coke remained stable, but the prices of secondary metallurgical coke in Shanxi and Tangshan fell slightly.
Other related prices or indices: On October 31, the integrated freight index (BDI) was 2018 points, down 143 points (-6.6%) from the previous week. The Panamax Freight Index (BPI) was 1939 points, down 60 points (-3%) from last week. On October 30, Qinhuangdao stocks 5.352 million tons, an increase of 397,000 tons this week, both domestic coal.
This week's strategy: With coal peaks approaching, it is recommended that institutional investors establish positions on the left side. At present, coal stocks have relative income from allocation, and absolute returns will depend on the improvement of the macro economy. The recent fine-tuning of domestic macroeconomic policies has basically established the bottom of coal stocks. Maintain the recommendation of two types of stocks: coal stocks that are 10 times P/E next year: China Shenhua, China Coal Energy, Lanzhou Kechuang and Shenhuo. Assets are injected into stocks that are expected to be strong: Luan Huaneng Energy, Jizhong Energy, and Big Energy.
The transit price of coal rose slightly. On October 28th, the transfer of Qinhuangdao Datong high-quality mixed 910 yuan / ton, 5000 kcal Shanxi large mixed 730 yuan / ton, remained stable; 5500 kcal Shanxi excellent mixed 865 yuan / ton, up 5 yuan / ton this week.
Coking coal prices are stable. This week, the steel market is undergoing low consolidation and the coke market is operating weakly. However, the time required for transmission from the steel and coke markets to the coking coal market needs to be delayed. In addition, the coking coal resources integration in some provinces is still underway, and the supply side is limited, so coking coal prices remain. smooth.
The price of injected coal remained stable. On October 31st, prices in Changzhi, Yangquan and Shouyang remained stable.
Smoke-free raw coal and lump coal prices are stable. On October 31st, the prices of anthracite such as Jincheng and Yangcheng remained stable.
International Coal Price: Australian Coal BJ prices are lower. On October 31, the spot price of Australian BJ was US$121.6/ton, which was US$2.15/ton lower than before the holiday. Coking coal prices in the Asia-Pacific region fell this week: October 31, Cape Coking Coking Coal FOB price of 238 US dollars / ton, this week fell 5 US dollars / ton. Qingdao port imported coking coal CIF price of 257 US dollars / ton, this week fell 4 US dollars / ton.
Secondary metallurgical coke prices fell slightly. On October 31st, prices of Taiyuan, Tianjin, Linyi, Jiexiu, and first grade metallurgical coke remained stable, but the prices of secondary metallurgical coke in Shanxi and Tangshan fell slightly.
Other related prices or indices: On October 31, the integrated freight index (BDI) was 2018 points, down 143 points (-6.6%) from the previous week. The Panamax Freight Index (BPI) was 1939 points, down 60 points (-3%) from last week. On October 30, Qinhuangdao stocks 5.352 million tons, an increase of 397,000 tons this week, both domestic coal.
This week's strategy: With coal peaks approaching, it is recommended that institutional investors establish positions on the left side. At present, coal stocks have relative income from allocation, and absolute returns will depend on the improvement of the macro economy. The recent fine-tuning of domestic macroeconomic policies has basically established the bottom of coal stocks. Maintain the recommendation of two types of stocks: coal stocks that are 10 times P/E next year: China Shenhua, China Coal Energy, Lanzhou Kechuang and Shenhuo. Assets are injected into stocks that are expected to be strong: Luan Huaneng Energy, Jizhong Energy, and Big Energy.
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