China's six major power firms saw coal stocks increase gradually above 11 million tonnes at the end of August, showing eased stocks pressure they faced in recent power peak season.
Their coal stocks rebounded to 11.32 million tonnes as of August 31, up 5.4% from the lowest level of 10.73 million tonnes on August 28, showed data from industry portal sxcoal.com.
The volume was enough to cover 15.2 days of use, 1.4 days more than three days earlier, data showed.
It was an ease from previous stocks tightness where only 13 days of coal use could be covered, mainly attributed to falling coal burns at utilities amid cooling weather.
Besides, slight decline of spot coal prices boosted power companies' buying interest and increased their stocks to some extent.
Data showed that domestic 5,500 Kcal/kg NAR coal assessed by Fenwei CCI Spot 5500 Index dropped by 2.5% from 640 yuan/t FOB in early August to 624 yuan/t FOB on August 30.
(Writing by Tammy Yang Editing by Jessie Jia)
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