Import thermal coal prices are trending strongly

On February 13, the import thermal coal prices remained relatively strong. This week, domestic coastal power plants are tendering for forward imports of coal until April. It is reported that a power plant in South China region actually purchased Q3800 at a price of 486-499 yuan/ton. Due to concerns about tight supply of low-calorie Indonesian coal, power plants have been forced to accept higher prices, resulting in a significant upward shift in the overall price center of gravity. On the import trader side, because of the rapid increase in overseas prices and the market pattern that is easy to rise but hard to fall, traders have less confidence in bidding and procurement, leading to a decreased enthusiasm for participating in power plant tenders, mainly adopting a cautious wait-and-see approach. (My Steel Network)