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China Coal Daily Track (Jun 21)

sxcoal.com Thermal Coal,  Coking Coal 2021-06-21 15:20:53

Thermal coal

Production area

Coal prices continued to move up on strong demand and weak supply. Safety inspections escalated ahead of th 100th anniversary of CPC, especially after recent several safety incidents, coal mines in some areas were required to suspend production for rectification. Chemical plants and traders were active in purchasing, which boosted coal price to rise. Strong demand in summer peak season could further shore up coal prices.


Northern port

Coal prices at production areas shored up the cost of coal for portside market, which dampened down traders' enthusiasm. Offers rose accordingly, which subdued downstream buyers' acceptance and actual transactions. Market participants were optimistic to the market for supply shortage cannot be eased in short term.


Import market

Power plants issued many tenders with the awarded prices 50-70 yuan/t higher than last round. The high-priced imported cargoes only enjoyed 20-30 yuan/t premium to comparable domestic cargoes, for strong demand from global market. Importers reckoned price of imported thermal coal would rise further for scarce supply.


Coking coal

Supply was pressured by the production suspension and cut of coal mines upon the coming of July 1, the 100-year anniversary of founding of Communist Party of China. Downstream buyers reported difficulties in restocking. Mid- and low-sulfur coking coal prices in Linfen and Luliang of Shanxi province climbed 30-200 yuan/t, breaking previous highs.


Prices of imported cargoes went up too. Prevailing offers of Russian K4 coking coal rose 30-50 yuan/t to about 1,530-1,600 yuan/t. Closure of Ganqimaodu border crossing made available cargoes limited, and offers of Mongolian 5# raw coal up ticked to 1,530-1,550 yuan/t.


Coke

Bolstered by the overall coal market, coke prices moved up amid tightened supply by the safety supervision. Downstream buying appetite improved. Offers in Shandong and Hebei rose 120 yuan/t. Steel mills' acceptance of higher coal price improved. Supply is forecasted to tighten further, for the outlook of production cut and reduced quality of coke at some coal mines. Offers stayed firm for limited resource, and offers of Quasi Grade I coke stood at 2,750-2,800 yuan/t, FOB Rizhao port with VAT and in cash.  


(Writing by Lilya Li  Editing by Tammy Yang)
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