Yesterday (July 22nd), the reporter learned from insiders that the Shenhua Group issued two new price policies last Friday (July 19th): First, since the beginning of the 26th, Shenhua Coal has settled once at the end of each month. The price is settled at the lowest price of the same coal category in the current week, from the 18th to the end of the month. Second, the price of the next Shenhua will resume the long-term price of 4,500 kcal or less (including 4,500 kcal), but the price base will increase by 5 yuan. Ton.

Relevant persons of Shenhua Group Sales Company confirmed the news of the above new price policy to reporters.

Zhang Zhibin, an analyst at China Coal Grand Consulting Center, told the reporter of the “Daily Economic News” that Shenhua’s new adjustment of the price policy has changed a lot compared to before, in essence, it is a disguised form under the current downward trend of coal prices. Lower prices."

The new price is more flexible According to the reporter's understanding, Shenhua Group's price execution is one quote per week, and the specific price is related to the Bohai Rim Index of the week, and the 26th issue of the new policy is the 26th working week of this year.

In response to the new price policy, analysts interpreted the Daily Economic News reporter that the first article of the policy was aimed at market coal. After adjusting, according to the lowest price in the week of the week, the market can become more flexible; The policy is to restore the coal price of the 4,500 kcal long coal mine, but raise RMB 5/ton on the basis. "I feel that the new policy is more flexible."

Zhang Zhibin believes that before the Shenhua Group, there will be four or five different weekly settlement prices based on weekly quotes. Under the current trend of declining coal prices, Shenhua’s new policy stipulates that it settles once at the end of each month, and the settlement price is settled at the lowest price of the coal category in the current week’s price, which means that the settlement is based on the lowest weekly quotation within one month. This is a way of disguised price cuts." "This policy of Shenhua will increase the enthusiasm of customers to purchase."

In response to the second price of the New Deal, Zhang Zhibin said that the scope of this policy is less than the first one. The 4500 kcal of low-grade coal accounts for a small portion of the thermal coal of Shenhua Group. At present, the transaction status of this type of coal in the port is not bad. "On the whole, I feel that Shenhua's price adjustment changes are still very large, and it is estimated that other coal companies will follow suit."

The brewing pricing power was decentralized in late May. The market came out and Shenhua Group's previously used pricing approach linked to the Bohai Rim Coal Index and lower than the index price of RMB 7 to 10 came to an end. There were even media reports that Shenhua Coal Co. The price is not linked to the Bohai Rim Index, and the new coal pricing mechanism formed in the past few months has broken down.

However, in an interview with the reporter, Shenhua sales company stakeholders denied the decoupling, saying that it is also linked with the Bohai coal price index, but the floating settlement or floating settlement is a trade secret.

Yesterday, analysts explained to the reporter of “Daily Economic News” that Shenhua Group’s price in the Bohai Rim Index accounted for a large proportion, so whenever the index fell, Shenhua’s price would also fall, and then the index would fall again.

In late June, the coal market experienced a price reduction led by China Coal Energy. According to media reports, at that time, China Coal Energy Coal Sales Company drastically reduced its thermal coal listing prices in northern ports, dropping 28 yuan/ton within one day. Subsequently, Shenhua Group will revoke the previously announced spot coal listing price and set the 5,500 kcal Shenqi Mix 1 listing price at 582 yuan/ton, which is the same as China Coal. The price cuts of the two giants have triggered coal companies such as coal to follow suit.

The price cuts are still continuing. Recently, Shenhua Group announced that it triggered the second round of price cuts in the coal industry. According to media reports, the five major coal groups including Shanxi Coking Coal, Tongmei, Yangmei, Zhaoan, and Shanxi Coal have recently discussed the implementation of the Baotuan operation, and focused on the “same region, the same coal species, the same quality, the same market, and the same price”. Coal companies took the lead to establish a unified coordination mechanism, unified coal sales strategy, a caliber, to eliminate internal competition and price competition, dynamic stability of the province's coal prices.

According to industry insiders, Shenhua Group is brewing to decentralize the pricing power of coal from the headquarters of the group to the sales subsidiary, allowing it to seize the market by its own pricing.

However, for the above news, the reporter has not yet been confirmed by Shenhua Sales Company. Shenhua insiders are puzzled by the word “decentralization” because the current implementation is the sales company’s pricing model for group approval.