Because there are practical constraints at both ends of supply and demand, it is of positive significance to explore and establish a reasonable inventory system in every link of coal production, circulation and consumption to ensure that the coal inventory of the whole society is at a reasonable level to ensure the supply of coal and stabilize the huge fluctuation of coal price. To explore the establishment of a reasonable inventory system is to establish a "reservoir" in the whole process of coal production and consumption, shortening the process of regulating the supply and demand of coal

Recently, the national development and reform commission solicited public opinions on exploring the establishment of a reasonable coal inventory system. According to the plan, China will scientifically determine the minimum and maximum coal stocks according to different links, different regions, different enterprises and different periods of time. In this regard, some people believe that, in the context of coal overcapacity is still very serious, the mandatory production and consumption links to ensure coal storage level, is a "tangible hand" stretched too long.

From the perspective of demand, China's annual coal consumption is about 4 billion tons, which is far smaller than the production capacity, but presents obvious structural characteristics, namely, the coal demand fluctuation is obvious every quarter, and the coal demand varies greatly in different regions. Such structural fluctuations often lead to peak summer and peak winter, as well as "coal shortage" problems when supply is tight due to some extreme weather.

In the "golden decade" of the development of the coal, the coal shortage "has been harassing led directly to the coal prices rise, not only increase the cost of downstream users, especially the thermal power enterprises pressure, more to a great extent, release the wrong market supply and demand information, many coal enterprises to speed up the expansion and release the impulse, to coal serious overcapacity.

From the perspective of supply, although China's coal production capacity has been seriously excess, due to the impact of safety production regulations and other factors, the release of coal production capacity is inelastic. Once the market supply and demand situation changes dramatically, it is difficult for coal enterprises to increase supply in a short time by accelerating the release of production capacity. In addition, China's existing coal production capacity, there are a lot of production capacity, including some advanced production capacity is illegal production capacity, if further efforts to crack down, coal production capacity may not be imagined by the outside world. If the bao bet that provides coal is in "capacity release" on, can stimulate coal company to accelerate capacity to expand instead, also may bring about a few break the law to violate capacity "fish in troubled waters". By the time the tight coal supply and demand situation passes, the market is likely to slip back into a more serious glut.

Because there are practical constraints at both ends of supply and demand, it is of positive significance to explore and establish a reasonable inventory system in every link of coal production, circulation and consumption to ensure that the coal inventory of the whole society is at a reasonable level to ensure the supply of coal and stabilize the huge fluctuation of coal price.

After nearly 40 years of reform and opening up, China has long said goodbye to the era of shortage economy and realized the transformation from seller's market to buyer's market. Coal as a basic energy and important raw materials in China, it is also necessary to preserve a certain reserve scale.

To explore the establishment of a reasonable inventory system is to establish a "reservoir" in the whole process of coal production and consumption, shortening the process of regulating the supply and demand of coal. The maximum and minimum inventory levels proposed in the draft of the national development and reform commission are also reasonable inventory levels needed to maintain normal production and business activities in all links. This standard setting is conducive to improving the enthusiasm of market players in all links to timely replenishment of inventory, and can effectively avoid significantly increasing enterprise inventory costs.

Of course, in the longer run, in order to effectively deal with structural fluctuations in coal demand, we must combine giving full play to the decisive role of the market in resource allocation with giving better play to the role of the government, actively establish a coal production peak regulation system, promote the orderly release of coal production capacity, and enhance coal supply flexibility. At the same time, we should straighten out the relationship between upstream and downstream supply and demand as soon as possible, effectively solve the problems of the system and mechanism behind the backwardness of coal and electricity, and solve the problems of obstruction in the links of coal production, distribution and consumption, so as to avoid the tension between supply and demand caused by disputes of interests of all parties.