Port coal prices have risen significantly, leading to an accelerated purchasing pace at the terminals.

Recently, the daily consumption of coastal power plants has risen to high levels typically seen in the summer months of previous years, with inventory digestion accelerating, leading to a release in terminal restocking demand. Although the number of anchored vessels at ports around the Bohai Sea remains low, the forecast for incoming vessels has increased. Coupled with the high cost of imported coal upon arrival, some demand has shifted back to the domestic market, resulting in a slight improvement in demand. As we enter the middle of the summer heat, southern China is experiencing widespread sauna-like weather, causing a surge in residential cooling electricity demand, which further supports the daily consumption at power plants in the eight coastal provinces, increasing it to a peak of 2.32 million tons. However, the number of days that power plants can rely on coal inventory is generally above the safety threshold, and with high inventory levels maintained at southern unloading ports, the congestion and delays issue has not been fundamentally resolved, leading terminals to only maintain essential purchasing. At the same time, supply from production areas continues to contract, forming a cost support. Strict safety regulations, combined with long acceptance times for mines that are temporarily closed in northern Shanxi, have resulted in a significant month-on-month decline in shipments along the Daqin line, while the inflow volume at ports has returned to normal levels. Additionally, the long-term inversion of pit shipping costs has weakened traders' willingness to sell at low prices.