On the morning of October 27, the Price Department of the National Development and Reform Commission convened a meeting of some key coal enterprises of the China Coal Association to study specific measures for real-time intervention in coal prices. Many people have to ask, what does the content focus say? What are the implications for coal?
Hello everyone, I am Kankan, a hard-working and serious analyst. Yesterday coal fell twice in 1 day, and once again repeated the fall and stop tide of a few days ago, before I wrote an article saying that coal only had one drop stop at most, and now it has been beaten in the face! I really did not expect that the policy could make such a strong and sustained intervention, and apologize to everyone, sorry!
However, although I gave speculation, I also said that I hope that everyone will be cautious in participating in the onlookers, and participation is also a light warehouse with a small stop loss, which should not be a big loss. Today we take a look at what yesterday's special session said, why is it so influential? How many times has coal fallen to a halt?
Knowing that everyone doesn't like to read boring original texts, I directly distilled the main points:
The special meeting further clarified the details of the current price of thermal coal, the specific standard is that the price of thermal coal pit mouth is uniformly formulated by the National Development and Reform Commission, which is 440 yuan per ton including tax, and the maximum increase is 20%, which is 528 yuan per ton! Prior to this, coal production enterprises were required to implement the price of 5500 kcal thermal coal pit mouth not higher than 1200 / ton.
Someone is blindfolded, how can it be two prices? So much difference? Thermal coal also has to be cut off???
In fact, it is like this, the pit mouth limit price of 1200 yuan per ton is the opinion of the operation bureau and has been implemented. The pit mouth limit of 528 yuan per ton is the opinion of the Price Division, but it needs to be reported to the State Council for approval before it can be implemented. The legal effect of the two is not the same. The Operating Bureau is similar to the initiative and relies on corporate self-regulation; the Price Division, similar to the regulations, must be enforced.
But Giggs's opinion depends on whether it can be approved, and if it is not approved, it is of little significance. According to Giggs, the approximate price of thermal coal to the port is about 800 yuan per ton.
That is to say, thermal coal and this fall stop board may still not be able to stop the decline, there is still room for decline! The same goes for coking coal and coke.
In addition to yesterday's morning meeting, what news made last night's night session also open and stop? Yesterday was two falls a day, the bulls did not have any chance to play, want to cry without tears.
On the night of October 27, the National Development and Reform Commission and the State Administration of Market Supervision jointly carried out a special inspection of the spot market price of coal, and strictly investigated and punished violations of laws and regulations!
According to a non-public document of the Development and Reform Commission of Yulin City, Shaanxi Province, the task of coal supply assurance in the fourth quarter of Yulin City is being fully promoted, and in response to some specific problems reflected by individual enterprises, the Yulin Municipal Development and Reform Commission and the Yulin Municipal Energy Bureau are actively promoting solutions.
In addition, according to the Ordos Daily, on the morning of October 27, Ordos held a city-wide coal supply and price dispatch meeting, one is to require that the price of 5500 large-calorie pit coal be reduced to less than 1200 yuan / ton by 6 p.m. on the same day, and 7 "immediate" are conscientiously implemented; the second is to increase production capacity and increase output. The third is to ensure supply and safety.
Finally, Dashang adjusted the trading limit and limit range of coking coal and coke, which were implemented from the settlement on November 1. Such a adjustment and adjustment, the deposit has been so high that the main force is difficult to accept, and retail investors needless to say.
So, when will coal fall to a halt? How many more stops are there? Where is the new bottom? #期货 #
In terms of thermal coal, spot prices fell, and coal mines strictly implemented the price of 5500 kcal below 1200 yuan / ton. Most of the coal mines are mainly based on supply assurance, railway shipping policies, and the overall inventory remains low. If the price division proposes to pass yesterday, then the next target for thermal coal is 800 and below. #动力煤 #
In terms of coke, the spot market price is stable, the port quasi-first-class coke price is 4250 yuan / ton, the recent raw material coal price price continues to be high, the profit of coke enterprises has fallen sharply to a lower level, and some have fallen into a state of loss. Coke at most one down stop, late or there is a rebound, into a wide range of shocks. #焦炭 #
Coking coal is convenient, spot prices are temporarily stable, Mongolian coal quotation of about 3430 yuan / ton, the supply is still tight, due to the severe prevention and control of the epidemic in various places, the shipment in some areas is seriously hindered, coupled with the increase in oil and gas prices, the transportation costs of enterprises have increased significantly. Directly inhibit the lower space, it is expected that at most one stop board, it is difficult to go down sharply. #焦煤 #
Well, the above is the sharing of today's talk, do you think the coal bottom is coming? How many more stops? Creation is not easy, continuous sharing is more difficult, welcome to like the comments to support ~