- Wednesday November 30,2022
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China's manufacturing PMI stood at 48 in Nov, down from Oct's 49.2, NBS data showed on Nov 30.
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The coal storage of major thermal power plants in SW China's Sichuan province had reached 5.98 Mt as of Nov 29, beating the scheduled target of 5.8 Mt by the end of the month. The inventory level means power supply of the major hydropower province will be ensured during the dry season of this winter and next spring over Dec 1-Apr 28, and coal-fired thermal power enterprises could realize peak power generation, Sichuan Daily reported.
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Mongolia exported 1.92 Mt of coal during 1st half of Nov, up 1.07% compared with the same period in Oct but jumping 144.95% YoY, according to the National Statistical Office of Mongolia.
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NW China's Ningxia autonomous region produced 78.55 Mt of coal from Jan to Oct, up 10.3% YoY, with the growth down 0.7 pp from the first nine months, local economic planner said.
- Tuesday November 29,2022
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Mongolia transported 1.20 Mt of coal via railway in Oct, rising 18.35% YoY and 27.36% MoM, marking the 3rd straight month of rise. Coal railings totaled 8.36 Mt during the first 10 months of 2022, up 8.46% YoY, showed data from the National Statistical Office of Mongolia.
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China's meteorological authority on Nov 29 issued an orange alert – the second highest in a four-tier, color-coded weather warning system, forecasting big temperature drops and gales in vast regions of the country. Some parts of Jilin, Guangxi, and the area south of the Yangtze River could see temperatures drop by 16 to 20 degrees Celsius in the following days.
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In mid-Nov, the production and transportation in China's main coal bases were still affected by the epidemic, and major coal mines prioritized supply guarantee tasks and long-term contract supply. Coal throughput of Qinhuangdao port and Shenhua Huanghua port decreased by 25.1% YoY in mid-Nov. Coal inventory at the two ports was down by 8.2% YoY on Nov 20 but rebounded by 15.9% from Nov 10, mainly driven by a notable increase in term coal inflows, which pulled up QHD port's coal inventory to 5 Mt, China Ports and Harbour Association data showed.
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On Nov 28, the Baltic Exchange's dry bulk sea freight index rose 23 points, or about 1.7%, to 1,347. The capsize index rose 56 points, or about 3.5%, to 1,669. The panama index rose 17 points, or about 1.2%, to 1,496. The supramax index fell 2 points to 1,180 points.
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China's market-based electricity trading volume at all exchange centers in the country totaled 4,310.2 TWh in first 10 month of 2022, jumping 43.3% YoY. This accounted for 60.1% of the country's total consumption over the same period, up 16 pps from Jan-Oct 2021.
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China's market-based electricity trading volume at all exchange centers in the country totaled 4,310.2 TWh in first 10 month of 2022, jumping 43.3% YoY. This accounted for 60.1% of the country's total consumption over the same period, up 16 pps from Jan-Oct 2021.
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China's steel-consuming sectors presented weakened signs in Oct 2022. The real estate sector showed a marginal MoM rebound but extended its YoY fall; infrastructure investment fell MoM but maintained yearly growth; and the manufacturing industry, driven by industries such as machinery, automobiles, and ships, kept a YoY growth trend, but retreated MoM, China Iron and Steel Association data showed.
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With cold waves hitting many parts of China, steel demand is expected to be on the downtrend with falling construction enthusiasm. Weak actual demand would add pressure to steel prices, despite favorable macroeconomic policies and cost support from rising coke and iron ore prices.
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Ordos has been accelerating resumption of coal mines and capacity expansion approval to boost energy supply to the nation. So far, 46 coal mines had been approved to restore production this year, increasing capacity of 95.70 Mtpa, and 87 coal mines had been given green light to expand capacity, with capacity of 121 Mtpa.
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Coal-rich Ordos city in N China's Inner Mongolia region has 243 coal mines in operation, with a combined capacity of 866 Mtpa and daily coal sales reaching over 2.35 Mt, Inner Mongolia Daily reported. The accumulative coal output in Ordos so far this year stood at 722 Mt, up 113 Mt or 18.6% YoY. The city sold 692 Mt of coal during the same period, up 122 Mt or 21.35% YoY, including outbound coal delivery of 539 Mt, up 95 Mt or 21.39% YoY.
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Thailand's latest customs statistics showed the nation's thermal coal (bituminous and sub-bituminous) imports totaled 1.68 Mt in Oct, up 14.97% YoY and 6.14% MoM.
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