During the reporting period (April 17, 2019 to April 23, 2019), the power coal price index around the Bohai Sea closed at 579 yuan/ton, which was flat.

_From the calculation results of transaction prices of six ports around the Bohai Sea, 13 of the 24 specifications declined in price and 11 of the specifications with flat price during the reporting period.

_Analysis shows that the comprehensive price of coal in Bohai Rim region is stable under the combined action of multi-empty factors.

_. Prices of the main origin go up and the cost of arrival increases. In some areas of Shaanxi, the control of coal management tickets is strict, the supply recovery is not as expected, the queuing situation of coal-pulling trucks is not uncommon, the high-card and low-sulfur coal is in short supply, the coal price in Shaanxi is leading the rise substantially, the coal price in other main producing areas is rising slightly, the arrival cost is increasing, and the bottom of the port transaction price is supporting the rise.

2. Buyers have a strong voice in off-season maintenance period. Since late April, the power plant began to enter the maintenance period, the daily consumption of power plants continued to decline, as of April 23, the total daily consumption of coastal power plants fell to 586,700 tons, the lowest value in nearly two months. At the same time, the inventory of key power plants in China breaks through 70 million tons again every two months. Under the background of "low daily consumption and high inventory", the purchase enthusiasm of power plants is poor and the bargaining power is strong.

3. Forward contracts have strengthened and future market expectations are optimistic. Forward contracts for power coal have risen rapidly and the market is optimistic in the late period. The highest price of ZC909 contract has risen to 606.6 yuan/ton by 24. Futures market has a certain boost effect on the spot market.

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 continued to rise during the reporting period (April 17, 2019 to April 23, 2019). On April 23, 2019, the freight index closed at 832.76, up 82.36 points, or 10.98%, compared with April 16.

On April 23, 2019, compared with April 16, 2019, the average coal price of 50,000-ton ships on Qinhuangdao-Guangzhou route increased by 1.1 yuan/ton to 35.2 yuan/ton; the average coal price of 40,000-ton ships on Qinhuangdao-Shanghai route increased by 0.9 yuan/ton to 29 yuan/ton; and the average coal price of 40,000-50,000-ton ships on Qinhuangdao-Jiangyin route increased by 49 yuan/ton. To 33.6 yuan/ton.