Electric power companies met internally and asked their power plants to make every effort to pull the long-term association. In the case of some units overhaul, maintain the current amount of coal in stock, reduce the purchase of high-priced market coal, in an attempt to suppress coal prices; and delay the restocking time to four. Concentrate purchases after coal prices have fallen in late May or early May. In terms of time, it is about the second half of the overhaul of the Daqin line that there will be a peak of rush to transport electricity and coal. At that time, the Bohai Rim ports will usher in a scene where ships will be concentrated in the port, and the supply and demand of the coal market will reappear, supporting the continued increase in coal prices.

1.From the perspective of imported coal, in the first quarter, domestic coal and lignite imports were 68.45 million tons, a year-on-year decrease of 29%. In addition to the Indonesian holy month of Ramadan (entering fast on April 13 and ending on May 12), the production and shipment of Indonesian coal in April and May will be affected. In addition, the world economy began to recover after the epidemic, Southeast Asia’s economic recovery accelerated, and coal demand was strong. Drive international coal prices and freight rates to rise sharply, and the price advantage of imported coal is not obvious.

2. Since March, large-scale power plants have mainly maintained rigid pulling operations and have not yet carried out large-scale replenishment activities. It can be seen from the inventory of key power plants nationwide that coal storage is showing a slow downward trend; and the current daily consumption of power plants is relatively high. Even during the off-season unit maintenance period, the daily consumption of power plants does not decrease significantly, which is very rare in history. At present, the number of days available for coal storage in power plants is at a low median level, and the distance from the "peak summer" is getting closer, and the desire for power plants to replenish the storage is getting stronger.

3. On the demand side, expectations are improving. First of all, the domestic economy has recovered strongly. The GDP growth target for this year is 6%, which is 4 points higher than last year's highest level. In the first quarter of this year, my country's economy continued to expand, with GDP rising by 18.3%; the macro economy was operating steadily and steadily, which drove the increase in coal consumption demand. Secondly, this year, the coal consumption demand of the four major industries has maintained a relatively optimistic year-on-year growth rate. This can be seen from the daily consumption of the six major power plants along the southern coast of my country. Except for the daily consumption of 400,000-500,000 tons during the Spring Festival, the rest All time hovering between 660,000-700,000 tons. In the second quarter of this year, the rain is expected to be worse than in previous years, and the situation of coal and electricity consumption is very optimistic.

4. The National Mine Safety Supervision Bureau held an emergency video conference to strengthen the supervision of coal mine safety production, and the safety inspection was upgraded. From the perspective of production areas, Shaanxi Province will carry out special supervision of super-capacity production in all coal mines from mid-April to mid-May. Inner Mongolia is conducting a large-scale safety inspection of coal mines in the region, and there are already many large-scale coal mines. Issuance is suspended. Although the National Development and Reform Commission held a meeting last week to request the production areas to increase the supply of coal, it still takes time for the production to be released, and the increase in inventory at Bohai Rim ports is limited. In addition, the inventory of downstream power plants has dropped significantly year-on-year. Before the summer coal season comes, there is still a demand for replenishment on the demand side. The market is bullish and expected to ferment again in the second half of this month.