Coal demand picks up, coastal transportation market rises

According to the latest information released by the Shanghai Shipping Exchange on the 19th, due to the recovery of coal demand this week, the coastal transportation market has generally risen. The coastal bulk freight index issued by Shanghai Shipping Exchange this week closed at 1227.70 points, up 5.64% from last week.
It is understood that the average daily coal consumption of major power plants along the coast has rebounded from the previous week, with an increase of more than 10%. Coupled with the recent market expectation that the continued rise in international oil prices will drive up the price of related energy products, while the domestic coal price has fallen by around 20% since February, traders have started to charter ships to buy coal storage in the market, along with the demand for seaborne coal. Increased, driving the freight rate to rebound.
This week, the freight rate of coastal coal routes increased in an all-round manner. The freight index of Qinhuangdao to Ningbo route closed at 1277.61 points, up 13.04%; the freight index of Qinhuangdao to Shanghai route closed at 1571.32 points, up 11.72 points. %; Tianjin-Ningbo route freight index closed at 1604.59 points, up 12.31%, and the market freight rates closed at 39 yuan/ton, 36 yuan/ton, and 48 yuan/ton, respectively, up from last week. 6 yuan/ton, 5 yuan/ton, 8 yuan/ton.
Metal ore transportation prices rose this week, and the cargo index closed at 1119.13 points, up 3.71% from the previous week. At present, it is the crucial period for the annual iron ore negotiations. The market generally expects that iron ore prices will soar, and some traders will begin to buy iron ore for hoarding in the market. The increase in demand for coastal transportation has contributed to the increase in freight rates.

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