Coal tax rate is expected to be lowered

When the domestic coal price rises close to or even exceeds the import coal price, the attention of imported coal naturally rises. In addition to price advantage, good coal quality has also become a worthy place for imported coal. “The phenomenon of incorporation of coal gangue or water injection will generally not occur, and the quality of imported coal is relatively good.” An industry analyst said in an interview with a reporter from Securities Daily.

However, the advantages of imported coal did not drive its sales. For the first half of the year, coal-fired bulls are more serious and coal-fired power plants generate less coal. Compared with the same period of last year, the total amount of imported coal in the first five months decreased by 17.5%.

Imported coal is of good quality without coal gangue

“Generally used for export quality is not bad, so the coal quality of imported coal is very good.” Hao Zheng, an analyst with Guojin Securities Coal Industry, pointed out to the “Securities Daily” reporter that “Especially like Australian coal, The calorific value is very high."

In the context of coal power top bulls and domestic and international coal prices that are partially upside down, the degree of preference for imported coal has become higher and higher. Coal quality is one of the important reasons.

In the case of coal doping, this is a case where "imported coal generally does not appear to be such a situation, as the phenomenon of domestic incorporation of many coal gangues does not occur, and such coal is seldom used for export." An insider familiar with the coal market told reporters.

With fewer stones incorporated, the utilization of coal naturally increases. In addition, the calorific value of imported coal itself is high, and its cost performance is naturally concerned by thermal power plants in China, especially in coastal regions.

"As in Australia, coal quality is good, and the calorific value is more than 5,000 kcal. The quality of coal in many areas in China is not comparable." The above sources added that.

Over the years, imported coal has become the most attractive to China's East China and Guangdong and Guangxi regions. According to statistics from China Coal Resources Network, from January to May 2011, the total amount of imported coal in East China was the largest, at 23.01 million tons, and 17.68 million tons in Guangdong and Guangxi, ranking second only to East China.

Relieve the gap between supply and demand

Coal tax rate is expected to be lowered

In the first half of the year, the call for imported coal was relatively large, and the advantages of imported coal also made the coal-fired power plants start to look here. Only the data of the total amount of imported coal in the first half of the year shows that, for imported coal, the actual actions of thermal power plants are far less than their attention.

According to relevant statistics of the General Administration of Customs, the total domestic coal imports from January to May 2011 was about 56.91 million tons, which was 17.5% lower than the same period of last year, while the total amount of imported coal was about 68.96 million tons in the same period of last year.

Coal-fired top cattle are so serious that domestic coal prices have risen even higher than imported coal prices, while the total amount of imported coal has been declining. This is quite unreasonable. In view of this, Hao Zheng believes that "in the first half of the year, although the total amount of imported coal has declined, we can see from the first half of the month, especially from the beginning of March, that the monthly import value is rising and the rate of increase is very large. The advantage is still great."

Although the current price advantage of imported coal is not very clear, as the domestic coal price continues to rise, the advantages of imported coal will become more pronounced. The government’s intention to lower the tax rate on imported coal has added an extra piece to imported coal. “Although the tax rate has not yet been officially lowered, the reduction of port miscellaneous fees and imported coal tax rates is positive,” said Yu Hong, an analyst at Datong Securities Research Institute. “In this way, it is no problem if the import coal price is reduced by another 50 yuan. "According to the average coal price in the first half of the year, the average price of imported coal is expected to drop to around 660 yuan per ton.

For the relatively energy-poor provinces in south-central China, the attractiveness of imported coal to them is relatively limited. "Mainly there are still some restrictions on transportation, but there are still advantages of taking advantage of the Yangtze River, so this year the company has been understanding and contacting related imported coal matters," Zhao Yuan, chief investor of Changyuan Power, interviewed by the reporter of Securities Daily. Said, "But it hasn't been implemented. Most of them still buy domestic coal."