Continuous Creation of New Highs in Thermal Coal Prices This Year

As of November 10th, the "CCTD Bohai Sea thermal coal spot reference prices" for the three specifications of 5500K, 5000K, and 4500K were respectively closed at 817, 725, and 633 yuan/ton, with a daily increase of 8, 8, and 6 yuan/ton. However, they are still lower by 35, 28, and 28 yuan/ton compared to the same period last year. In recent times, the demand for thermal coal in the market has remained relatively strong, combined with the fact that inventories in the middle and downstream sectors are mostly at lower levels compared to last year, as well as the impact of the expectation of increased consumption during the winter peak period, the market's optimistic sentiment remains strong, driving prices continuously higher.