Coal Inventory at Chinese Ports and Power Plants High

Source: Guangzhou Daily, ChinaScope Financial (Data)

+       The latest data shows that the average price of 5,500kcal/kg steam coal in the Bohai Bay Rim closed at CNY 768/metric ton, a new low for the current year and a 3% decrease compared with previous high of CNY 795/ton.

+       Statistics show that as of June 7, coal inventory at Qinhuangdao port has reached 8.83 million tons. In addition, inventory at a number of power plants was also high, which in some cases can take a month to clear out. As of May 27, total coal inventory at major Chinese power plants was more than 96 million tons. On average, the current inventory can last for 27 days, much higher than normal.

Stocks of Qinhuangdao and other key electricity plants are at a high level.

Coal prices are at the lowest level in recent years.

 

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