The coal industry suffered the worst "cold stream" in 10 years

Since May of this year, the coal market has entered an overall downturn and coal prices have “slipped”. In June, it was down at a rate of nearly RMB 20/t per week. According to the data from China Shipping Coal, as of July 11th, the Bohai Bay thermal coal price index closed at 652 yuan/ton, and continued to refresh the lowest point since the index was established. This is the tenth consecutive week of coal prices fell, the cumulative decline of 135 yuan / ton. Since the beginning of this year, due to the large increase in coal production capacity, the slump in international coal prices, and the slowdown in the domestic economy, coal inventories have been overstocked. Some industry sources worry that the “golden decade” in the coal market may end. In Shanxi, a major coal province, coal sales have been slowing down due to sharp declines in coal prices. Although sales revenue has continued to grow, growth has slowed and profits have declined. Qinhuangdao Port, Huanghua Port and Tangshan Port in Hebei Province together constitute China's largest coal-to-water port group in the north. The annual coal throughput exceeds 300 million tons, and the shipment of coal accounts for 69% of the country's total. Since June, the coal stocks in the three major ports have been operating at high levels and are near saturation.