On January 1st to 7, Bohai sea power coal price index fell 0.95%, to 520 yuan / tons, hit the biggest weekly drop since August 6th last year. The author believes that, because of the economic situation is still not optimistic, coal demand, coal stocks at a high level, and the international coal prices generally low, short-term ring Bohai steam coal prices under the adjustment of pressure, but the judge domestic especially coastal coal prices will start a new round of bear market too early. Coal prices have been reduced to a relatively low At present, coal prices and the beginning of 2014 to be much lower than this limit, coal prices down further from the fundamental space. If the leading coal enterprises do not take the initiative to cut prices, so prices very difficult to trend down. On January 1st to 7, Bohai ring 5500 kcal coal average price of only 520 yuan / ton, the average per kcal less than 0.095 yuan, this claim with the Coal Industry Association's "push prices return to the rational, and strive to make the power coal price is still a big gap between the back up to 0.1 - 0.12 yuan / kcal". At present coal price just let some coal enterprises just get rid of the loss making situation. In addition, the strict control of illegal and super capacity production of their own market position and relevant departments based on the control force, Shenhua and other leading coal enterprises on the market gradually, in 2014 coal prices decrease and recovery of all and the leading coal prices lead price related. As long as the leading coal enterprises do not take the initiative to reduce the price of coal, the short-term market confidence is not going to collapse once again, the price of coal is difficult to appear the trend of the market fell sharply. Part of the coal imports will face barriers to product quality Since January 1, 2015, "Interim Measures" will be formally implemented the commercial coal quality management. The policy of commercial coal ash, sulfur, heat, mercury and arsenic, phosphorus, chlorine, fluorine and other indicators were put forward to make clear a requirement, substandard goods coal will be banned from entering the market, some of the imported coal or will therefore be squeezed out of the market. In addition, because the more strict regulation of imported coal, imported coal trade increased risk. In order to avoid risks, traders will be more cautious in coal imports, some small and medium-sized traders may suspend part of coal imports. For nearly a month, the Guangzhou port coal stocks continue to decline may have a certain relationship with this. Guangzhou port data display, as of January 9th, the Guangzhou port coal amount to 2200000 tons, compared with December 10, 2014, a decrease of 980000 tons, down 30.7%. Although the international coal prices continue to slump, the international coal shipping costs continue to decline, the overall imports of coal have the price advantage, but because of the coal import regulation strictly, traders to import will face obstacles impact quality, international coal prices on the domestic price of coal may greatly reduce the. Seasonal factors will limit the callback rate to a certain extent At present, the Spring Festival approaching, some coal mines will be cut-off holiday, coal production may be a seasonal decline, and the power output is relatively high, therefore, the power coal supply and demand situation is difficult to further deterioration. Continue to strengthen in the domestic power coal price is relatively low, the leading coal enterprises to control the market situation, seasonal factors will curb prices callback rate to a certain extent. Comprehensive to see, although the domestic coal prices to face some pressure callback, but as long as the leading coal prices do not lead prices, coal prices down space is not big. (Chun Lei)