China Coal Daily Track (Apr 29)

sxcoal.com Thermal Coal,  Coking Coal,  Others 2021-04-29 14:04:15

Thermal coal

Production area

More mines in Ordos of Inner Mongolia suspended production due to inadequate sales quotas, slightly tightening supply and backed prices; Yulin miners in Shaanxi reported strong restocking demand from chemical plants and held prices mostly stable, while sales at some mines in Shenfu declined as evidenced by less trucks for loading; some coal mines in northern Shanxi reported decline in sales as coal-washing plants slowed restocking because of high cost and environmental protection measures. Most miners held prices firm, despite marginal reduction at a few mines.


Northern port

Actual trading activities didn't change a lot. Traders and end buyers were not in a rush to take positions before Labor Day holiday, while only several buyers bought small amount due to low stocks. Some insiders expected restocking demand of utilities to prepare for peak summer consumption would keep shoring up prices.


Import market

Cargoes in import market increased mainly as some international traders switched more Indonesian thermal coal to China given severe COVID-19 pandemic situation in India, which led to a decline in offers. At present, Panamax 3,800 Kcal/kg NAR thermal coal was offered at $55/t FOB, while 4,700 Kcal/kg NAR cargoes at $78/t FOB.


Coking coal

Offers of raw coking coal surged by 80-250 yuan/t at major production areas because of low capacity utilization rate. Prices of primary coking coal, meager lean coal and gas coal also increased by 10-50 yuan/t this week.


Sxcoal estimated prices of low-sulfur primary coking coal (sulfur 0.5%, GRI 80-85) from Linfen and Changzhi were 150-200 yuan/t higher than Canadian and the U.S. cargoes of similar quality, DDP Tangshan with VAT, which lending some pricing edge to the latter.


Coke

The third round of coke price hike of 100 yuan/t was fully accepted. Coke production contracted at different degree due to environmental controls. Coke producers saw their stocks fall to relatively low levels after several days of strong sales.


Coke stocks at steel mills continued to fall. Inquiries for coke increased and steelmakers noted it's hard to source premium type.


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

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