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Coal prices in production areas remain strong, with spot prices at ports continuing to rise； Coal chemical industry remains volatile at high levels, with premiums in East China recovering ； The petrochemical sector benefits from strong crude oil prices, with solid cost support ； Prices of energy materials show divergence, with lithium weak and base metals strong ； The regional price gap for industrial gases has stabilized, with higher prices persisting in the southeast. ⛏️ Coal | Origin, Ports, Bohai Sea Region, Areas 【Shenhua Batuta (including shipping cost)] Purchased coal: 5800 kcal, price of 582–586 yuan/ton (↑2) ； 5,500 kcal, 549–552 yuan/ton (↑2) ； 5,000 kcal: 477–480 yuan/ton (↑2). China Coal Association: 5,500 kcal – 550–555 yuan/ton (no change) ； 5,000 kcal: 490–495 yuan/ton (steady). 【Port / Bohai Sea Region (incl. tax upon delivery)】Huanghua Port, Q5500: 868-872 yuan/ton (↑3) ； Qinhuangdao Q5500: 865-869 yuan/ton (↑3) ； Bohai Rim Index: 862–865 yuan/ton (↑3). 【Regional Prices (Mine exit / Truckload)] Thermal coal Q5500: Ordos 588-592 (↑3), Yulin 616-620 (↑3) ； Coking coal: Gujiao main coking coal 1320-1330 (↑5), Tangshan 1590-1600 (↑5) ； Coal tar (Northwest): 3380-3420 (↑30). 【Demand and Equipment】Demand: Daily coal consumption in North China’s chemical industry up by 2.5% on a month-on-month basis ； Inventory at ports in East China is around 25.9 million tons, a decrease of 14% year-on-year ； Temperatures in South China are rising, driving up the daily fuel consumption of power plants. Facilities: The capacity utilization rate in Shanxi, Shaanxi, and Inner Mongolia is 89.5%, with strict security checks ； Coking capacity utilization: 80.5% ； Operations at Beigang are efficient, with smooth logistics. Overall situation: Producers are firm in holding prices; spot prices at ports are strong. The off-season is not weak, with prices remaining high, and upward trends are expected to continue in the short term. 🧪 Coal Chemicals | Prices, Demand, Plants 【Price Range (ex-factory / delivered)] Methanol: Northwest 2730-2750 (↑20), East China 3470-3490 (↑20) ； Coal-based PE/PP: Northwest PE8280-8320 (↑20), PP8630-8670 (↑20) ； Ethylene glycol: Northwest 5050-5070 (↑10) ； Urea 2300-2320 (↑10) [Demand and Plants] Demand: Stable demand for formaldehyde and MTO ； Improvement in packaging tube orders ； Purchase of compound fertilizers is active, with agricultural demand coming to an end. Facility: Northwest Methanol’s operating rate is 90.5%; maintenance work is nearing completion ； The operating rate of coal-based olefins is 93.5%, with full production capacity in use. Overall situation: Strong support from supply in the northwest; premium in East China recovering; steady with a slight upward trend, fluctuating at high levels. 🛢️ Petrochemicals | Prices, Demand, Plants 【Price ranges】Crude oil: Brent at $106.8–107.4 per barrel (↑0.7%), WTI at $100.5–101.0 per barrel (↑0.8%) ； Propylene/Pure benzene: North China propylene 8780-8820 (↑30), pure benzene 8180-8220 (↑30) ； PVC: 6080-6220 (↑30) ； Propane 7210-7230（↑20） ； Fuel oil: 6,070 yuan/ton (↑10). 【Demand and Equipment】Demand: Urgent replenishment needs on the downstream side, a slight recovery in the real estate sector, stable export orders, and improved sales of chemical products. Equipment: Operation rate of East China refineries is 91.5%, while that of local refineries is 78.5% ； Wanhua’s MDI production is at full capacity, with low inventory levels. Overall situation: Geopolitical risks on the cost side are contributing to strength, with the crude oil sector performing well and the real estate sector showing signs of recovery. 🔋 Energy Materials | Prices, Demand, Equipment 【Price Range】Battery-grade lithium carbonate: Jiangxi 165,000–167,000 yuan (↓1,000 yuan), East China 168,000–170,000 yuan (↓1,000 yuan) ； Industrial silicon: Northwest 12,780-12,840 (↑20), East China 13,480-13,540 (↑20) ； Electrolytic aluminum: 18680-18720 (↑20) ； Polysilicon: 16,700 yuan/ton (↓5). 【Requirements and Devices】Requirements: Stable demand for new energy vehicles and energy storage solutions ； Demand for polysilicon remains weak, and support from real estate completions is limited. Facilities: Lithium salt lakes at full production capacity, low inventory levels ； Operating rate of industrial silicon: 86.5% ； The operating rate of electrolytic aluminum production is 92.5%. Overall situation: Tight supply and demand balance with price divergence; lithium prices remain weak, while industrial metals show strong fluctuations. 💨 Industrial Gases | Prices, Demand, Equipment 【Price Range】Liquid oxygen: Northwest 405-425 (↑5), East China 530-540 (↑5) ； Liquid nitrogen: Inner Mongolia 325-335 (↑5), Zhejiang 495-505 (↑5) ； High-purity helium: 159-161 yuan/m³ (↑1). 【Requirements and Equipment】Requirement: Stable gas supply for metallurgy and chemical industries in the northwest ； Demand for electronic semiconductors in East China is strong, with active purchasing activity. Facility: Northwest Air Separation at full capacity ； New production capacity in East China comes online, leading to a more stable supply situation ； The import of specialty gases is tight. Overall situation: Low prices in the northwest and high prices in the southeast; bulk gases are stabilizing and showing signs of recovery, while specialty gases exhibit strong resistance to price drops. 📈 Industry trends and future outlook: Currently, in the energy and chemicals sector, coal leads with strong performance, coal-based chemicals follow suit, the petrochemical industry is relatively strong, materials show varying performance levels, and gases are characterized by regional differences. Supply and demand landscape: Strong export demand for raw materials in the Northwest, recovery in pricing in East China, and steady demand for advanced processing in South China – resulting in a tight balance in the supply chain. Competitive landscape: State-owned coal enterprises control resources to stabilize prices ； Petrochemical costs drive differentiation ； Material assembly techniques and long orders ； Gas delivery efficiency. Short-term outlook: As the peak summer season approaches, coal prices are expected to fluctuate strongly; coal chemical products will remain at high levels; the petrochemical sector will perform well along with crude oil; there will continue to be differences among various materials; and regional price differences for gases will stabilize. Pay close attention to production area safety inspections, geopolitical risks related to crude oil, and the pace of inventory replenishment at downstream levels. Quote from WeChat: {Huayu Jingyan} https://mp.weixin.qq.com/s/WN8ADjfGkuEkOOcYCTXjNQ