Coal news and updates

Coal stocks at Qinhuangdao port drop below 7 mt

Coal stocks at Qinhuangdao port, the benchmark for China’s domestic market, have dropped for consecutive five days, as outbound shipment continued to surpass inbound railings.

On August 6, coal stocks at the port was 6.71 million tonnes, down 2.75% on day and down 8.46% from a week ago, showed data from Qinhuangdao Port Group.

Daily inbound coal railings to Qinhuangdao port averaged 0.59 million tonnes during the week ended August 6, down 11.8% on week; while outbound shipment was 0.68 million tonnes on average each day over the same period, rising 13.1% on week.

Coal demand from utilities recovered a bit this week, with daily coal consumption at power plants under the six coastal utilities at 0.74 million tonnes on August 6, up 6.13% from a week ago, which was enough to cover 19 days of consumption.

Trading activities still lacked steam, sources said. The Fenwei CCI 5500 Index for domestic 5,500 Kcal/kg NAR coal traded at Qinhuangdao port was assessed at 392 yuan/t with VAT on August 5, FOB basis, flat on day while down 0.5 yuan/t on week.
 
source: http://en.sxcoal.com