According to the latest figures, on September 20 total coal inventory at the northeastern Chinese port of Qinhuangdao reached 4.487 million mt, down 15,000 mt compared with the level on September 14. Meanwhile, coal inventory at the southern Chinese port of Guangzhou on September 20 was 2.1 million mt. The coal inventory figures for both ports in question mark new historical lows.
Taking a look at the most representative coal prices at Qinhuangdao Port: currently, the prices of coal with heating value of 5,500 kCal/kg are up by RMB 20/mt week on week to RMB 595/mt; meanwhile, the prices of Datong premium blend coal (6,000 kCal/kg) are at RMB 640/mt, also up RMB 20/mt week on week.
Due to the approaching National Day celebrations, various coal mines have been urged to strengthen their safety inspections, thus affecting the coal supply to a certain extent. Furthermore, as a result of the economic recovery, power consumption in China has continued to rise, resulting in growing demand for coal. Both of these factors currently provide support for the coal market in China.