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【导读】走势评级:动力煤:震荡 报告日期:2022年06月20日 ★煤炭供需总量宽松,市场煤价为何依然偏强? 1-5月份以来的动力煤供需数据整体转向宽松。但秦皇岛5500K煤价今年始终维持在1100元/吨以上,6月初达到1300-1350元/吨。既然今年煤炭供应增速远大于需求,为何煤价依然偏强?围绕这个问题,本文首先回顾2021-2022年以来,煤炭产能、政策、价格形成机制和社会库存周期变化;并在新…
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