Beigang Market Thermal Coal Prices Remain Weak and Stable

On March 6th, the North Port market thermal coal prices remained weak and stable. Yesterday, some market quotes were lowered by 5 yuan/ton, and traders’ willingness to sell has clearly increased. However, downstream demand remains difficult to release, and terminal procurement plans have not increased volume, resulting in a generally slow purchasing rhythm. Downstream price pressure is quite common, trading is relatively stalemated, and transactions are limited. Market operations still mainly adopt a cautious wait-and-see approach, and the future market requires continuous attention to the port inventory reduction rate and actual transaction conditions. As of March 5th, the inventory at the eight ports in the Bohai Rim was 23.88 million tons, an increase of 60k tons compared to the previous day. (My Steel Network)