Beigang Market Thermal Coal Prices Remain Stable for Now

On April 8th, Beigang market thermal coal quotations were temporarily stable. Yesterday, some market quotes were raised by 5 yuan/ton. Spot traders’ price-holding sentiment was relatively strong, with some traders holding back cargoes and being reluctant to sell at low prices. Downstream released a small amount of procurement demand, and inquiries for high-quality coal types increased slightly, but price-cutting still existed, and actual deals were limited. End-users mainly focus on drawing and transporting long-term contracts; most downstream procurement still maintained a relatively slow pace. The wait-and-see sentiment remains, and trading activity is still cautious. In the coming period, it will be necessary to continue monitoring the port inventory depletion rate and actual transaction conditions. As of April 7th, the inventory at the eight Bohai Rim ports was 26.38 million tons. (my steel network)