- Wednesday July 28,2021
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Coke producers at many areas reduced coke production by 20-50%, as intensified environmental pressure and rapid rises of coking coal prices caused losses of some firms. Luliang city in Shanxi ordered shutdown or coking prolonging of newly commissioned coke capacity without all procedures, Sxcoal learned.
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Impacted by typhoon In-Fa, traffic control has remained for one week at Yangtze River estuary, significantly impacting thermal coal vessel shipping there, according to Taiang Marine Bureau.
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Ordos reported daily coal sales at 989,400 tonnes on July 26, up 28,800 tonnes from a day ago but down 223,700 tonnes YoY. Mixed coal sales rose 48,500 tonnes DoD to 272,900 tonnes, while slack coal sales dropped 6,300 tonnes to 340,400 tonnes; lump coal sales rose 4,800 tonnes to 185,600 tonnes.
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On July 28, coking coal futures closed 2.0% higher in the noon, while rebar futures edged up 0.53%; coke futures up 2.77%; thermal coal and iron ore futures climbed up 0.91% and 0.48%.
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IMF in an outlook report on July 27 maintained its forecast of global economic growth at 6.0% in 2021, the fastest growth in nearly half a century, and it also revised up 2020 growth by 0.5 percentage point to 4.9%.
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Sxcoal learned thermal coal import market stayed quiet while foreign suppliers' offers were high. Power plants have generally finished restocking and avoided taking positions given high prices of cargoes with later laycans, which, however, face downside risks in the future. Indonesian 3,800 Kcal/kg NAR coal was offered at $70-71/t FOB on Supramax basis.
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Changsheng Coal Gasification Co., Ltd in Jiexiu city of Shanxi raised coke prices by 120 yuan/t from 0:00 on July 29, and it announced not to take advance payment from new clients and traders, market sources said.
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China's power usage rose 16.2% YoY in first half year, with average growth in H1 2020 and H1 2021 at 7.6%, rising 2.6 percentage points from H1 2019 and creating a new high in multi-years.
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Sxcoal learned thermal coal trading lulled at northern ports recently given participants' wait-and-see stance, and traded prices were generally flat from late last week. Coal prices are generally expected not to experience sharp rises or declines in the short run.
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India's JSW Steel said its crude steel production dropped by 2% from the previous quarter to 4.1 million tonnes during the Q1 (April-June) of fiscal year 2021-22.
- Tuesday July 27,2021
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Zhengzhou Coal and Electric Co., Ltd reported it is yet to estimate how the suspension of operations caused by recent torrential rainfall in Henan's capital Zhengzhou will affect its performance, the company said in a statement released on July 27.
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The Coronado Global Resources, a global supplier of coking coal, benefited a lot from China's ongoing embargo on Australian coal.
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Mongolia is likely to boost coal exports
through Shivee Khuren-Ceke border crossing to China, as it has been working
to expand operations by adding four checkpoints at the second largest outlet of coal exported to China.
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Yanzhou Coal Mining's commercial coal produciton and sales stood at 24.62 Mt and 25.48 Mt in Q2, down 19.7% and 33.05% respectively from a year ago. Production and sales in the first half totaled 50.97Mt and 51.79Mt, down 13.41% and 29.99% YoY.
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Thailand's thermal coal imports (including bituminous and sub-bituminous coal) in June surged 150% year on year to 1.89 million tonnes, but falling 5.46% from May, showed the country's customs data.
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