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China coal stocks remain low

2017-04-06 15:12:00 Others  sxcoal.com
The overall coal stocks in China stayed at a low level; the coal stocks of upstream and downstream markets continued to decrease, while that of transfer port maintained an upward trend.

As of March 27, CR Thermal Coal Stock index was 138.4, down 1.8% month on month, while CR Coking Coal Stock index was 81.3%, down 6.3% from January, data showed from sxcoal.com.

Thermal coal
Production Area Stock index was 147.9 on March 27, a decrease of 9.3% from early this month; Transfer Port Stock index was 151.6, an increase of 10.3% from early March; Consumption Area Stock Index decreased 12.4% from early March to 110.

Despite a seasonal lull upon the end of heating season, utilities kept stable demand for coal. Daily coal consumption of six major coastal power companies stayed high at 662,000 tonnes on March 30. Thermal coal stocks at transfer ports have increased since March, which may help meet utility demand.

Coal stocks of upstream production area decreased, because coals mines limited their production amid safety check.

Coking coal
CR Coking Coal Stock index was 81.3 on March 27, down 11.7% from 92.1 on February 6, data showed.

Production Area Stock index was 112.8, a decrease of 7.3% from early this month; Transfer Port Stock index was 57.8, an increase of 10.5% from early March; Consumption Area Stock Index decreased 6% from early March to 86.6.

Coking coal market remained slack after the Chinese Spring Festival holidays in early February, as coking plants continued to suffer loss and limited production due to environment check.

Coking coal prices have rebounded at main production areas since mid-March, thanks to increased demand from coke and steel producers who raised operating rate after the parliamentary sessions. Thus, stocks of transfer port increased.

The coking coal market embraced a favorable turnaround, but miners' profits were still limited. Upstream producers expected to raise coal prices amid tight supply.


(Writing by Zoey Yan   Editing by Jessie Jia)