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Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125.25) per ton, a fall of nearly 60 percent from the peak reached in October, the National Development and Reform Commission (NDRC) of China announced on Saturday on its website.
 
Analysts believed that the adjusted measurement revealed by the country’s top economic planner will quickly cool down the surging coal price before winter comes this year.
 
According to news outlet China Reform Daily, China’s nationwide coal output reached 12.05 million tons on November 10, a new historic height, and now has stabilized after reaching a daily output of over 12 million tons.
 
As a major fuel for electricity generation, coal stocks on nationwide power plants reached 129 million tons on November 14 and may surpass 140 million tons by the end of the month.
 
To secure the energy supply in winter 2021, the NDRC issued multiple regulations targeting the cost of coal production, market rectifications and price adjustment mechanism. Affected by decreasing coal prices, the cost of multiple raw materials including steel, aluminum and glass also declined sharply.
Source: Global Times


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Recent News

Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...


Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000  MT of min. 4300, 3500 and 5600 NCV ...


Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...


Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...


Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...


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