Beigang Market's thermal coal prices remain stable for now

On February 24th, the North Port Market thermal coal prices remained stable. The market is slowly recovering after the holiday, with moderate participation and no obvious demand boost, leading to a strong market wait-and-see sentiment. During the Spring Festival, power plants mainly consumed existing inventories, but post-holiday replenishment demand has gradually appeared. The inventories in the Bohai Rim area are at low levels, supporting coal prices to some extent. Additionally, imported coal supply remains tight, making it difficult for prices to decline. It is expected that in the short term, port thermal coal prices will remain stable or slightly strong. Attention should be paid to port transaction activity moving forward. As of February 23rd, the combined inventory of the eight ports in the Bohai Rim was 23.12 million tons, an increase of 90,000 tons compared to the previous day. (My Steel Network)