Qinhuangdao port has finally witnessed rise in coal price this week after coal price at China's Qinhuangdao port remained unchanged for seven straight weeks.
Qinhuangdao port has finally witnessed rise in coal price this week after coal price at China's Qinhuangdao port remained unchanged for seven straight weeks. On April 13th coal stock at the port, after rebounding shortly in last Friday, dropped once again to 3.47 million tonnes 56% lower compared with the highest level of 7.9 million tonnes this year. In the meantime, prices of all coal varieties show 1.7% to 4.1% or CNY 5 per tonne to CNY 15 per tonne of increases.
By April 13th high grade mixed coal with 6,000 calorie per kilogram from Datong had reached CNY 590 per tonne to CNY 610 per tonne, high grade mixed coal with 5,500 calorie per kilogram from Shanxi at CNY 565 per tonne to CNY 575 per tonne, mixed coal with 5,000 calorie per tonne from Shanxi at CNY 485 per tonne to CNY 500 per tonne common mixed coal with 4,500 calorie per kilogram at CNY 430 per tonne to CNY 445 per tonne and that with 4,000 calorie per kilogram at CNY 360 per tonne to CNY 380 per tonne.
This makes industry insiders believe that in the low season of Q2, coal market may not be that low. Statistics indicate that China's overall coal stock remained at 176.23 million tonnes in late March dipping by 4.5 million tonnes or 2.49%MoM. With regard to the drop of stockpiles, analysts say this is caused by coal enterprises' stock-renewing act.
Mr Chen Liang the analyst from a security company said "However, there are also uncertainties out there. On the one hand, the increases in coal production in China's Inner Mongolia might make things different on the other hand the international coal market may also affect domestic market."
In addition, some persons in charge of state-owned coal enterprise said blankly, even if coal price could keep rising, the rise would by no means be a big one China's coal supply demand in a balance as a whole now.