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Indonesian thermal coal prices experienced a palpable fall on May 31, affected by aggressive tender prices in China in the wake of straight price corrections in the domestic market.
Some
China's spot domestic thermal coal market was still grappling with steep decline on May 31, as utilities are well stocked with limited buying interest in anticipation of further price declines.
The pessimistic sentiment loomed larger in China's metallurgical coke market, as some participants foresaw a possibility of mills requesting a 10th round of coke price cut within the week.
The power grid in eastern China's Jiangsu province achieved a milestone as its electricity demand reached a peak of 100.97 GW on May 29, marking the first time in the history that the grid load broke
Coal inventory at China's northern ports exceeded 30 million tonnes on May 30, with an intra-day high reaching 30.11 million tonnes, notching a historic high, according to Sxcoal's data.
The Purchasing
Managers' Index (PMI) in China's steel sector, an economic indicator for the
industry, fell to 35.2 in May, marking the third straight month of decline
after returning to expansion t
Thermal coal
Production area While a few miners have seen a mild improvement in coal dispatches after price cuts, most miners have not experienced any positive changes in sales. With potential i
China's factory activity weakened further in May as a lack of demand suppressed the release of manufacturing capacity.
The official manufacturing purchasing managers' index (PMI) stood at
Huaneng Lancang River Hydropower Inc (600025:Shanghai), a subsidiary of China's state-owned power generator Huaneng Group, announced a plan late May 30 to construct a hydropower station in Tibet, with
India's largest coal supplier Coal India Ltd (CIL) has raised prices of its non-coking coal of grade G2 to G10 by 8%, marking the first hike in five years, according to local media.
The a
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Steel prices in China plummeted to a three-year low last week, primarily due to the weakness in its property sector, according to a Reuters report.
On May 25, the spot price of HRB400 20m
Shanghaimiao coal-fired power project, located in northern China's Inner Mongolia, was fully operational after the No.4 steam turbine wrapped up a 168-hour trail run, media reported.
This
China's portside thermal coal prices continued their downward trajectory at the start of the week, impacted by lackluster demand, stiff competition from imported coal, and the ongoing oversupply. Trad
China's installed wind power and solar power capacity combined reached 820 GW by the end of April 2023, accounting for 30.9% of China's total power capacity, according to the National Energy Administr
Trading enthusiasm started to cool in China's coking coal marketon May 26, with lower settlement and failure seen in online auctions after the coke market completed a further round of 50 yuan/t
China's domestic thermal coal market has been in the middle of a fast downward trend, with prices falling by more than 120 yuan/t during the past two weeks to the lowest since mid-January 2022.
Nippon Steel, a prominent Japanese steelmaker, remained engaged in negotiations with Teck Resources regarding its strong interest in acquiring a stake in Teck's esteemed high-grade coking coal asset,
Ganqimaodu border port, the largest artery in China for importing coal from Mongolia, saw its coal intakes reach 12.09 million tonnes from the start of 2023 to May 25, according to the port's official
China's coking coal market started the week with a slight drop in settlement prices for some online auctions conducted in major production areas, reflecting growing caution among coking plants in resp
China's power utilities are awarding tenders for imported coal at even lower prices, reinforcing expectations of persisting price declines in a buyers' market.
On May 26, several Chinese
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