Coal news and updates

China Shenhua Jul coal sales surge 124% y-o-y

China Shenhua Energy Co., Ltd, the listed subsidiary of state-owned coal giant Shenhua Group, sold 34.5 million tonnes of coal in July, surging 124% on year but down 7.3% from June, the company said late August 17.

That was 13.9% higher than the average monthly sales of 29.6 million tonnes over January-July. That compared with 15.4 million tonnes from the same month last year, which was 56.9% lower than the average monthly level in the first seven months of 2014.

Shenhua maintained prices steady for July sales to stabilize the domestic market, offering 5,500 Kcal/kg NAR coal and 5,000 Kcal/kg NAR coal at 460 yuan/t and 370 yuan/t, FOB Qinhuangdao, respectively. The company then rolled out new strategies to tap the domestic market, as the steady pricing failed to arouse any ripple.

Total sales over January-July dropped 15.1% on year to 212.3 million tonnes, it said.

Shenhua produced 24.3 million tonnes of commercial coal in July, up 6.1% from June but 9.7% below the year-ago level -- the 11th consecutive year-on-year decline.

During January-July, the company produced a total 163.7 million tonnes of coal, down 10% year on year.

In July, China Shenhua sold 19.6 million tonnes of coal via northern Chinese ports, up 366.7% on year but down 15.5% on month. Of this, coal shipped from Shenhua’s exclusive-use Huanghua port stood at 11.7 million tonnes or 59.7% of the total, up 631.3% on year but down 15.2% on month.

Over January-July, the company sold 117.5 million tonnes of coal via northern Chinese ports, down 5% year on year. Of this, coal shipped from Huanghua port stood at 63.1 million tonnes or 53.7% of the total, down 9.1% year on year.

It didn’t import any coal during the same period, while total exports reached 0.7 million tonnes, down 30% on year, with July exports at 0.1 million tonnes, unchanged on month and on year.

Meanwhile, China Shenhua generated 18.24 TWh of electricity in July, down 8.1% on year but up 4.2% on month, while total power output between January and July decreased 6.1% year on year to 118.66 TWh.

Power sales stood at 16.91 TWh in the past month, down 7.9% on year but up 3.9% on month. Total power sales over January-July shrank 6.1% year on year to 110.53 TWh.

source: http://en.sxcoal.com