Weekly China coal market news summary (Nov 4-Nov 8)

sxcoal.com General 2019-11-08 16:55:46

China Oct coal imports fall 15.2% on mth

China registered a 15.2% month-on-month drop in coal imports in October, as price edge of overseas cargoes weakened over domestic coal and market talks spread about possible tighter curbs.

The world's top consumer imported 25.69 million tonnes of coal, lignite included, in October, which however was 11.3% higher from a year ago, showed data released by the General Administration of Customs on November 8.

China Oct coal exports slump 29.6% YoY, GAC

China registered a 29.61% year-on-year slump in coal exports in October, showed data from the General Administration of Customs (GAC) on November 8.

Its coal offtakes to other countries came in at 340,000 tonnes last month, which, however, surged 42.86% from September, data showed.

China Oct coke exports slump to 2-yr low

China coke exports tumbled 67.78% from the year-ago level to a two-year low of 270,000 tonnes in October, data showed from the General Administration of Customs on November 8, due to high export price and weak demand worldwide.

The volume was also 31.47% lower than a month ago, data showed.

Bullishness ignited in Chinese thermal coal market on higher bids

Bullish sentiment was re-ignited in China's spot thermal coal market late this week, thanks to strengthening activity at northern China ports and a slight increase in bidding prices from end users.

In hopes of a spot market that may regain some strength, some portside suppliers cancelled or lowered previous discounts to their offers, and utilities were also raising their buying threshold.

Tightening China import grips dampen overseas thermal coal prices

A number of customs offices have halted clearance services for coal imports this week since the General Administration of Customs allegedly required to tighten grips on the overseas fuel, hurting prices of thermal coal in the Chinese seaborne import market.

Two Chinese customs of Fuzhou and Guangzhou suspended coal import clearance from October 25 after their 2019 import quotas were used up, market sources said last week.

Bearish sentiment prevails in China met coke market

Market participants remained bearish over the near-term met coke market in China, even though prices leveled off at main production areas.

On November 7, Fenwei assessed the price of Luliang Quasi Grade I met coke in Shanxi at 1,580 yuan/t, ex-plant with VAT, stabilizing for two days but down 20 yuan/t from the preceding week.

CHN Energy Nov mthly contract prices tumble 16-19 yuan/t, sources

China Energy Investment Corporation, also known as CHN Energy, cut its November monthly contract prices by 16-19 yuan/t from October, market sources said.

The price for the 5,500 kcal/kg NAR thermal coal that the company bought from other sources declined 17 yuan/t from October to 570 yuan/t FOB northern ports with VAT; while the price of outsourced 5,000 Kcal/kg NAR coal fell 19 yuan/t to 499 yuan/t.

China's Manzhouli coal imports surge 25% in Jan-Oct

Manzhouli, China's largest border crossing linking Russia, saw coal imports surge by 25% year on year in the first ten months this year amid robust demand from the northeastern region.

A total 3.97 million tonnes of coal was shipped into China through the border crossing in January-October this year, increasing by 792,200 tonnes from the year prior.

Large open-pit colliery set up in NE China

A large open-pit colliery has been set up in northeast China's Heilongjiang Province, with a proved reserve of lignite of over 800 million tonnes.

Located in the Baoqing County, the coal mine project, with an investment of more than 3 billion yuan (around $426 million), has a planned mining area of 76.8 square kilometers and a designed annual capacity of 11 million tonnes.

Follow-up: 7 trapped workers in NE coal mine tunnel collapse rescued

All of the seven miners trapped underground in a coal mine tunnel collapse in northeastern China's Heilongjiang province on November 4 have been rescued, according to state outlet Xinhua News.

The miners are in a stable condition as per initial observations by rescuers and have been sent to hospitals for treatment.

(Writing by Emma Yang  Editing by Jessie Jia)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

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