Due to a serious surplus production, domestic coal prices all the way down since 2013, the "golden years" are gone. And this is not only bitterness seems no end in sight, but also more serious. This year, coal prices continue deep down. Analysts believe that this year's coal prices or a loss of up to 90% more coal or face suspension or pay cut.
Domestic coal volume and price down loss-making coal prices to continue to expand
In the first half of this year, to further increase the downward pressure on the economy, the basis of energy demand was severely affected. Four major coal products, thermal power, crude steel, cement production there are different degrees declined further overall decline in coal consumption. With the decline in demand, coal prices continue to decline.
And in 2014 the price of coal and downs, this year, the domestic coal prices since the beginning of almost straight down. Acciona Siti BEIJING energy channels supply data, as of July 1, 2015, the Bohai Sea thermal coal price index was 418 yuan / ton, compared with the beginning of 2015 down 102 yuan / ton, down 19.6%.
According to Acciona think coal analyst Deng 舜介绍, domestic coal prices have now dropped to the lowest position since December 2005. It is reported that not only port coal prices continued downward, pithead prices also decline more than. As of June 26, Shuozhou in Shanxi coal pit price 230 yuan / ton, far below the level of the same period last year, 340 yuan / ton.
Further declines in the price of coal to make coal prices more into a quagmire of losses. Wind statistics show that the coal sector in the first quarter of 39 listed companies, there are 18 attributable to shareholders of listed companies net profit loss, a loss of nearly half.
Recently, Coal first-half results notice, the company expects a loss of 800 million yuan amount, or -12 billion, while last year the company also achieved a small profit. Tang Shun expected, in addition to Shenhua very few industry leaders, the coal industry this year, the whole industry will be in trouble or profit or even a loss.
According to media reports, in the case of coal prices continue downward, more and more coal prices began to compress capital spending, even as Shenhua such big enterprises also opened pace of overall pay cut, while small enterprises are facing cut and half discontinued.
According to CCTV reported that, at present, the country's largest coal storage to Inner Mongolia coal mine in half production or semi-shutdown state, industry estimates, more than 100,000 unemployed people unemployed coal mine. Chairman of a Coal Group, said the country is now more than 90% of the coal companies have no profit or loss.
The large coal enterprises are suffering too. Shenhua Ningxia Coal Industry Group under the management of collective pay cut since May, the highest rate reached 40%. Shenhua official microblogging confirmed Shenhua 2015 total staff wages reduced by 10% of the news.
Coal industry turnaround or a slight rebound in the second half long way to go
China's energy consumption as the support of primary energy demand, the situation of the coal industry has attracted the attention of the national top. July 1, the National Development and Reform Commission regulation of the economy once again invite the Treasury Board, Human Resources and Social Ministry, the People's Bank, National Energy Board, the National Coal Supervisor Bureau of Coal Industry Association Division and other units, organized the rescue work of the coal industry of the 31st joint meeting on integrated measures to support the coal industry out of the woods to focus on research.
On the whole, "structural adjustment" "Go capacity" has been a major policy of the Government's efforts to promote. Recently, deputy director of the State Administration of Work Safety, the State Coal Mine Safety Supervision Bureau emphasized topaz rule before the end to try to close all 90,000 tons / year and below coal and gas outburst.
However, according to industry analysts, at current coal inventory of high pressure, administrative means of coal is very limited role. China Coal Industry Association released data show that as of the end of May, the whole society coal stocks have been sustained 41 months more than 300 million tons. Zhongyu information analyst for the new site off the Italian energy channel, said:. "Capacity for it, demand falters, coal certainly falters now be regarded as a transitional pains of China's coal industry adjust excess capacity."
In addition to excess capacity, environmental issues also form further pressure on coal demand. According to industry sources, the country's overall situation emphasizes energy saving and environmental protection, some local governments look "coal" mindful of the fact that even some of the clean coal utilization projects is difficult to win approval.
Off Italy said that as not much good introduction, there is no clear policy guidance, so in the current weak overall demand in the background, the coal market will continue weak pattern. "Compared to the first half, the second half of the coal market should be improved, mainly it is the peak summer and peak winter season two support coal prices in the first half after a significant downward, it should be a slight rebound."
However, the coal industry in order to completely out of the doldrums seems to be done. According to Guan Italy, the current limit coal production is mainly limited production of local coal mines around the spontaneous, large groups do not overcapacity at most, limited production is relatively small. "At present, due to the economic downturn, demand for coal in the short term is difficult to come up, so the coal industry out of the doldrums rely only on control capacity, and when it is necessary to look out of the doldrums eliminate backward production capacity of the schedule."