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China's PMI index was 49.6 in Sep, below the 50-point threshold and 0.5 percentage point lower than Aug, showing contraction of China's manufacturing activity.
Prices of import seaborne cargoes climbed further and Indonesian Supramax 3,800 Kcal/kg NAR thermal coal was offered at $115/t FOB and was traded at $110/t FOB. Buying appetite of China's buyers improved for the price edge import cargoes enjoyed over China's domestic comparable grades, despite the rising international freights.
India's coal supply to its power plants was 243 Mt in Apr-Sep (ending on Sep 28), up 24% YoY and the all-time high level, data from CoalMint showed.
Traders at portside market became slightly bearish after authorities' supply-boosting conferences, but a few traders still held back on sales amid the lingering supply tightness.
As of Sep 28, the coal-dedicated railway Daqin line has transported 307.93 Mt of coal to Bohai-rim ports, 13.64 Mt more than the same period of 2020. Transport volume of the rail line was 1.15 Mt in Aug and 1.13 Mt in Sep.
Chemical and power plants were active in buying the fuel, boosting coal sales at rail stations. Most coal mines' priority to thermal coal supply for long-term contract clients led to sparse resources in spot market. Attentions should be given to daily consumption of end users after the holiday and policy regulation.
Previous coke price cut by some steel mills was put in limbo amid stalemates of two sides. Some steel mills showed good restocking demand prior to the National Day holidays, especially some high-grade ones, and some low-stocked mills had low intention to cut coke prices. Coke makers showed resistance to price reduction, given declining supply, shrinking profits and high costs.
Major miners' planned delivery volume of washed coking coal for the fourth quarter in Shanxi and Shandong contracted obviously, amid their pledge to ensure thermal coal supply. Offtakes at local coal mines were still weak on sluggish buying appetite.
Ganqimaodu border crossing cleared customs of 267 Mongolian coal trucks on Sep 29. Downstream buyers were on the sidelines and trading activities were tepid. Some offers of Mongolian 5# raw coking coal slumped below 3,100 yuan/t, ex-stock Ganqimoadu with VAT.
Effective Oct 1, 2021, SE China's Guangdong will further expand the peak-valley power tariff spread for non-residential users. The tariff for critical peak period (Jul-Sep and other days of daily max temperature above 35 ℃) will be 25% higher than that for peak power demand period (10:00-12:00, 14:00-19:00). Meanwhile, Guangzhou and Shenzhen will not arrange light show during the National Day holiday, and reduce the light on time and scope.
Forecasting an unoptimistic supply outlook in the peak winter, the China National Coal Association and China Coal Transport and Distribution Association jointly asked coal miners in a Sep 29 notice to full understand the importance and urgency of ensuring power coal supply by fully tapping into their potential of production increase, while adjusting sales strategy to non-key, non-term contract and energy-intensive end users timely and properly.
Regarding how to secure stable coal supply, China's NDRC said on Sep 29 that it have taken multiple measures to strengthen supply: 1) boost production and supply under precondition of safely; 2) approve capacity expansion and commissioning of advanced capacity; 3) increase coal imports moderately; 4) improve inventory levels, esp. at power plants; 5) prioritize coal supply for power and heat generation; 6) regulate market order and crack down on price gouging and other unruly behaviors to stabilize expectations.
NE China secured 6.8 Mt of additional coal supply after supplement long-term contracts signed recently between miners and generators, basically covering coal demand for power and heat supply in the region during the winter season, People's Daily reported late Sep 28.
China's effective lump anthracite supply was 5.09 Mt in Aug, up 7.1% MoM, lump anthracite consumption was 4.47 Mt, down 0.4% MoM, with supply-demand spread at 620,000 tonnes.
Coke slightly piled up in coking plants, due to sluggish demand from downstream users and withdrawal of traders. Low-stocked steel maker still have restocking demand ahead of the holiday and coke market is expected to be stable temporarily. Attentions should be given to steel mills' purchase and coke stocks at coking plants.
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China's two coal industry groups have jointly asked coal miners to full understand the importance and urgency of ensuring power coal supply by fully tapping into the potential of production increase.
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The National Development and Reform Commission (NDRC) has lowered the number of days that coal stocks can cover at power plants during peak consumption period from the original 15 days to no more than
China's President Xi Jinping said on September 21 that China would not build new coal-based power projects abroad, in a bid to hold hands with other countries to deal with the climate change.
China's thermal coal (bituminous and sub-bituminous coals) imports totaled 12.08 million tonnes in August, up 47.86% year on year yet down 12.21% month on month, customs data showed.
The Bank of China said it will no longer finance new coal mining and coal-based power projects aboard from October this year, following President Xi Jinping's announcement that China would stop
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China's National Development and Reform Commission (NDRC) together with National Energy Administration (NEA) recently sent supervision teams to key coal provinces, coal producers and major transfer po
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Indonesia's thermal coal production could fall short of its annual target this year, dented by earlier-than-usual rain season as well as lingering COVID-19 restrictions, said Hendri Tan, marketing dir
Northeast China's Jilin province urged to expand coal imports while speeding up coal delivery from Inner Mongolia and raising production from local mines, in a bid to ease its power shortage, which ha
India imported 17.19 million tonnes of coal in July, up 17.77% from 14.6 million tonnes in the same month last year but down 15.25% from June, the latest data from India's Ministry of Commerce and Ind
At least 16 provinces in China have published plans to cut industrial power consumption since late September in an effort to relieve the power supply shortage and reduce the energy consumption.
China's National Development and Reform Commission, the country's top economic planner, has recently issued a notice urging coal miners and combined heat and power (CHP) producers to sign more long-te
China's domestic thermal coal supply is facing a double whammy ahead of the start of winter heating season, but the supply woes could be eased if the energy consumption cap policy is well implemented.
Indonesian thermal coal prices kept rising on September 15 in the Chinese seaborne market, as Chinese buyers were showing more interests for seaborne coal at a time when domestic coal prices were rath
China's import prices of seaborne coking coal from non-Australia countries extended surges this week fueled by tight supply in both domestic market and also the globe, narrowing their price advantage
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Inner Mongolia, China's second largest coal-producing base, said it would seriously carry out the central government's decision on raising coal production to ensure winter demand, by accelerating appr
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