Research on the reasonable hub of coal price from the cost perspective

ZUO Qianming; GAO Sheng

Abstract：Against the backdrop of the intertwined"dual carbon"goals and energy security strategies,the rational pricing of coal assumes critical importance for maintaining the stability of the energy system.This paper establishes a research framework to define the reasonable price range of coal from the perspective of mining costs,systematically analyzing the transmission mechanism through which costs influence coal prices and investigating the trend of cost fluctuations in coal enterprises.From the perspective of marginal supply increments in domestic coal production,this study further dissects the dynamic changes in marginal supply costs to derive the reasonable price range for coal.The research findings show that the reasonable price range for 5500 kcal coal at Qin Huangdao Port is expected to be between 650 and 750 yuan per ton.It is proposed to improve the comprehensive cost accounting system,establish a price linkage mechanism,and strengthen market expectation management,so as to guide coal prices back to a rational interval that truly reflects the cost.These conclusions can provide both theoretical support and practical reference for ensuring the stable operation of the coal market.