During the reporting period (March 6, 2019 to March 12, 2019), the price index of power coal around the Bohai Sea closed at 578 yuan/ton, which was flat.

_From the calculation results of transaction prices of six ports around the Bohai Sea, we can see that in this reporting period, of the 24 specifications, the number of specifications with rising prices is 3, and the number of specifications with flat prices is 21.

In this period, the port market is in a period of transition from light to peak season, which is checked and balanced by the following factors. The price of power coal around Bohai Sea is flat after two consecutive rises: the origin, port and transport links are up by leaps and bounds, and the price of power coal around Bohai Sea remains unchanged after two consecutive rises:

1. With the approaching of the off-season, the demand for electricity and coal has slowly declined. Temperature has generally rebounded throughout the country, coal for heating in winter has come to an end, and coal consumption of power plants has steadily declined. Data from the Qinhuangdao Coal Network show that daily consumption of major coastal power plants has dropped to 609.1 million tons as of March 13, down 110,000 tons from the beginning of the month.

2. Coal prices are rising too fast, and power plants are cautious in purchasing. Previous coal prices rose rapidly, power plants mostly adopted long-term CO-SUPPLY warehouse, slow depot wait-and-see strategy to deal with the weak market demand for coal procurement, 13 coastal six major electricity coal reserves reached 16.21 million tons, 2.1 million tons higher than the same period last year, an increase of more than 6 million tons compared with 2017, at an absolute high level.

3. The pace of production resumption is accelerating, and the anticipation of supply decompression is strong. Shaanxi's third batch of re-production lists have been released. The pace of re-production of coal mines in the production areas after the two sessions may be further accelerated, and the pressure of coal supply shortage in the medium term is expected to be eased. In addition, the rebound of railway transportation guarantees the resource transfer of the port. The coal storage in Qintangcang is over 20 million tons, and the gap between supply and demand in the middle and lower reaches has not been enlarged.

4. Zhengzhou Coal has washed up and fallen, and the freight rate has fallen weakly. Main 05 contract jumped and fell after soaring, breaking through the 20-day average, and the short position was active; the shipping market was characterized by more ships, less cargo and excess capacity, the pressure of shipping charges continued to fall, and the advance decline of futures price and freight price caused market concern.

On the coastal shipping market, the Ocean Coal Freight Index (OCFI) issued by Qinhuangdao Coal Trading Market shows that the domestic Ocean Coal Freight Index (OCFI) continued to decline during the reporting period (March 6, 2019 to March 12, 2019). The freight index closed at 654.55 on March 12, 2019, down 84.78 points, or 11.47%, compared with March 5.

On March 12, 2019, compared with March 5, 2019, the average coal tariff of 50,000-ton ships on Qinhuangdao-Guangzhou route decreased by 4.2 yuan/ton to 28.4 yuan/ton; the average coal tariff of 40,000-50,000-ton ships on Qinhuangdao-Shanghai route decreased by 61 yuan/ton to 22.8 yuan/ton; and the average coal tariff of 40,000-50,000-ton ships on Qinhuangdao-Jiangyin route decreased by 67 yuan/ton./ Tons to 24.6 yuan/ton.