中文
Inner Mongolia, one of key coal mining bases in China, saw a decline in the monthly average pithead prices for thermal coal in June.
According to the Inner Mongolia Development and Reform Commission, the average pithead price for thermal coal in June was 357.08 yuan/t, marking a 9.72% month-on-month decline and a 10.42% year-on-year decrease.
Breaking down the prices by region and calorific value, the average pithead price for lignite in the eastern region was 333.00 yuan/t, down slightly by 0.21% month on month but up 1.35% year on year. In Ordos, the average pithead price for thermal coal was 457.50 yuan/t, falling 21.12% month on month and 24.38% year on year.
In terms of calorific value, the average benchmark prices for thermal coal with calorific values of 3,800, 4,500, 5,000, and 5,500 Kcal/kg NAR were 371.06 yuan/t, 372.83 yuan/t, 460.00 yuan/t, and 550.00 yuan/t, respectively. These prices experienced respective month-on-month decreases of 0.18%, 18.30%, 22.30%, and 16.67%. On a year-on-year basis, the price of 3,800 Kcal/kg thermal coal increased 1.95%, while the prices of 4,500, 5,000, and 5,500 Kcal/kg NAR grades decreased 19.66%, 25.81%, and 19.12%, respectively.
Since June, temperatures have been consistently elevated in many parts of the country, leading to a rapid increase in daily coal consumption, the commission said. As a result, thermal coal prices began to rebound towards the end of June.
According to the National Climate Center's forecast, there will be frequent extreme weather conditions in the Equatorial Pacific region over the next three months due to a high-likely occurrence of El Nino phenomenon.
The continued high demand for thermal coal during extreme heatwaves is expected to drive coal prices higher. However, the current high stockpiles and steady supply under long-term contracts may offset part of the upward strength.
The commission predicted both coal supply and demand will be robust in July, with prices expected to experience slight fluctuations at current levels.
(Writing by Alex Guo Editing by Emma Yang)
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