Disagreement between power plants and traders affect mining sector
It is reported that China imported 28.68 million tonnes of coal during January to August 2008 down by 18% YoY. Coal exports amounted to 33.64 million tonnes up by 0.3% YoY.
In the meanwhile China's exports of coke and semi-coke fell 5.7% to 9.68 million tonnes. Coal stocks at transshipment ports in North China and ports and power plants in South China all remain at high level.
Power plants expect coal price to decrease while traders hope the price will rise. The disagreement has led to dull sales and delayed shipments.
Besides, due to decelerated economic growth and better West-East gas transfer in southern regions, demand for coal in South China appears stagnant and stocks at ports and power plants stay on high tracks.
Moreover, shipments via railways have increased notably. Daily shipment to Qinhuangdao Port gained 11.4% in Aug from Jul.