CCI Daily

An Indispensable Insight into the Chinese Coal Market

Issue 1,979 Wednesday   Jul 07 2021

Coal stocks falling sharply at N China ports; market Fenwei CCI Thermal Index Daily on Jul 07, 2021
eyes further changes Price
Price
DoD
WoW

(USD/t) (RMB/t) (RMB/t) (RMB/t)

Thermal coal stockpiles were falling quickly at
northern China's transfer ports, indicating supply CCI 5500* - - - -
remained under pressure in the domestic market, which CCI 5000* - - - -
may dent the government's expectation of a "relatively CCI 4500* - - - -
large" price decline this month.
CCI 4700 Import^ 108.0 790.8 -0.0 +1.2
Coal stockpiles stood at 4.15 million tonnes at the
major trading port of Qinhuangdao on July 7, down CCI 3800 Import^ 81.7 598.2 -0.0 -1.3
from 4.50 million tones on the week. It has kept falling CCI 3800 FOB 64.5 418.0 +1.3 +1.3
since the beginning of the month, Sxcoal data showed. 1)* FOB Qinhuangdao; includes VAT at 13%. 2)^ CFR South
China; the RMB value includes 13% VAT.
The decline came as a bigger decline in inflows than
outflows last week. Inbound deliveries to Qinhuangdao
Standard Specifications
in the week to July 7 averaged 368,000 tonnes per day,
down from 416,714 tonnes during the week of June 24- CV
Ad
Std
Vdaf

(Kcal/kg,NAR) (%) (%) (%)

30. Offtake in the week averaged 418,000 tonnes a day,
down from 441,000 tonnes a week ago. CCI 5500 5,500 18 0.8 28
Traders reported the cost of delivering coal from CCI 5000 5,000 18 0.8 28
production areas to northern ports remained high – in
CCI 4500 4,500 22 0.8 25
many cases, even higher than current offer prices. This
hindered them from shipping coal from production CCI 4700 Import 4,700 10 0.7 35
areas to northern ports.
CCI 3800 Import 3,800 7 0.5 40
One Hebei-based trader told Sxcoal that current
For details of methodology, please visit
prices for 5,000 Kcal/kg NAR thermal coal with 0.6% http://www.sxcoal.com/price/index/en.
sulfur at 870-880 yuan/t FOB northern ports, but his
aggregate cost for delivering coal from Inner Mongolia
was 920-930 yuan/t.
"At current prices we will definitely suffer losses,
even by blending with previous cargoes," he said. "We
have to wait for a turning point."
A trader under a large coal group in Inner Mongolia
reported they suspended spot sales and had to source
from other traders to make up the group's delivery to
utilities under long-term contracts. "We are losing
money actually by using spot coal to deliver long-term
contracts," he said.
A state-owned coal group announced its latest
contract prices for the week of July 6-13. Domestic
5,500 Kcal/kg NAR coal was priced at 767 yuan/t FOB
with VAT, slumping by 40 yuan/t from a week ago; 5,000
kcal/kg NAR coal at 701 yuan/t, down 13 yuan/t on the
week; 4,500 Kcal/kg NAR coal at 573 yuan/t, a 4 yuan/t
rise.
Participants wondered if this is a result of the Fenwei CCI Thermal Index Weekly on Jul 04, 2021
government's efforts to cool down the market. But Price
Price
WoW
MoM

some traders said the impact on the spot market was (USD/t) (RMB/t) (RMB/t) (RMB/t)
limited. CCI 5500 Composite* 111.0 718.0 0.0 +57.0
"There are few spot cargoes available at northern CCI 5500 Term* 92.1 596.0 0.0 +27.0
ports. Sometimes you even cannot scrape together one
CCI 5500 Bulk* 139.1 900.0 0.0 +100.0
vessel of coal," said a Zhejiang-based trader, adding it
would be less likely for traders to lower prices." CCI 5500* - - - -
Safety still matters CCI 5000* - - - -
While the 100th anniversary of the founding of the CCI 4500* - - - -
Communist Party of China was concluded on July 1,
CCI 4700 Import^ 108.0 790.3 +6.5 +94.8
authorities may still not loosen their guard on coal
mining safety. Domestic supply could be as tight as CCI 3800 Import^ 81.9 599.2 +0.4 +73.6
before the July 1 anniversary, unless new capacity is 1)* FOB Qinhuangdao; includes VAT at 13%. 2)^ CFR South
China; the RMB value includes 13% VAT.

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CCI Daily

utilized. China Thermal Coal Prices on Jul 07, 2021

China's National Mine Safety Administration said on Basis
Price*
Price*
DoD
WoW

July 5 said all related parties should keep alert against (USD/t) (RMB/t) (RMB/t) (RMB/t)
QHD Port
mining accidents, as the situation of mining safety
QHD 5000 (S≤0.6) - - - - -
remained "serious and complicated," especially during a
QHD 5500 (S≤0.6) - - - - -
time when domestic supply keeps in shortage and QHD 5800 (S≤0.6) - - - - -
prices are high. QHD 5800 (S≤0.8) - - - - -
Huang Yuzhi, director of the administration, urged Guangzhou Port
all local branches to learn the lesson from previous IM 4500 Ex-stock 143.4 925.0 0.0 0.0
mining accidents to avoid similar tragedies from Shanxi 5000 Ex-stock 151.2 975.0 0.0 0.0
happening again. Shanxi Prem 5500 Ex-stock 165.9 1070.0 0.0 0.0
Most coal mines reopened after the July 1 Shenmu 5500 Ex-stock 168.2 1085.0 0.0 0.0
anniversary, but a few in Inner Mongolia remain in Shenmu Prem 6000 Ex-stock 176.0 1135.0 0.0 0.0
suspension until mid-July for self-check of safety Shenmu Lump 6100 Ex-stock 231.5 1493.5 -3.4 -30.6
loopholes. The overall production resumed to normal Indonesia 3800 Ex-stock 99.0 638.2 -0.0 -1.3
Indonesia 4200 Ex-stock 102.8 663.2 -0.0 -1.3
levels, while no new construction or expansion projects
Indonesia 4800 Ex-stock 130.7 842.8 -0.0 +1.2
were heard to have started operation.
Indonesia 5500 Ex-stock 162.0 1045.0 0.0 0.0
Demand improved slightly since this week with Australia 5000 Ex-stock 151.2 975.0 0.0 0.0
more trucks coming for coal loading at coal mines, but Australia 5500 Ex-stock 162.0 1045.0 0.0 0.0
this helped little with mine-mouth prices, which kept Shanxi
edging lower from the month beginning. Datong 5500 Mine-mouth 127.1 820.0 0.0 -15.0
Shuozhou 5000 Mine-mouth 108.5 700.0 -10.0 -40.0
Thermal coal prices fall back at China's production
Changzhi 5800 Mine-mouth 158.1 1020.0 0.0 0.0
hubs on increased supply Shaanxi
Thermal coal prices softened at major production Yulin 5800 Mine-mouth 128.1 826.0 -4.0 -19.0
hubs in northern China as coal supply tightness Shenmu 6000 Mine-mouth 132.4 854.1 -4.1 -19.6
alleviated along with increased production after the Yulin 6200 Mine-mouth 132.2 853.0 0.0 -4.0
100th anniversary of the founding of CPC on July 1. Inner Mongolia
Fenwei assessment for 5,500 Kcal/kg NAR thermal Ganqimaodu 6000 Ex-stock 59.7 385.0 0.0 0.0
coal in Shanxi's Datong was at 820 yuan/t on July 6, Ordos 5500 Mine-mouth 121.6 784.0 -11.0 -41.0
mine-mouth with VAT, falling 5 yuan/t further day on Ordos 5000 Mine-mouth 102.3 660.0 -3.0 -38.0
day after a 10 yuan/t drop; that for 5,800 Kcal/kg NAR Dongsheng 5200 Mine-mouth 120.8 779.0 -11.0 -41.0
*includes VAT at 13%.
thermal coal in Shaanxi's Yulin was assessed at 830
yuan/t on the same day, falling 9 yuan/t from a day ago.
On the same day, Fenwei assessed 5,500 Kcal/kg
NAR thermal coal in Inner Mongolia's Ordos at 795
yuan/t, mine-mouth with VAT, down 4 yuan/t from a
day ago following a sharp 17 yuan/t slump.
Thermal coal supply steadily increased as mines
gradually went back to normal production since July 2
after short suspension due to the centenary celebration.
Additionally, state-run coal giants, like China Energy
Investment Corporation, China National Coal Group,
Jinneng Holding Group, Shaanxi Coal and Chemical
Industry Group and Inner Mongolia Yitai Group, have
worked to raise thermal coal supply and shipment.
A batch of capacity is about to put into use in the
near term. Ordos, a coal-producing hub in Inner
Mongolia, is heard to approve a number of opencast
pits to resume operation in August after about half a
year's rectification.
Shanxi and other provinces like Jiangxi announced
to build or expand coal reserve capacity to hedge
against coal supply shortfall in the future.
However, downstream buyers were still sitting on
the sidelines waiting for clarity of market direction,
leading to undesirable sale performance and helping
pulling prices further down.
China Shenhua largely cut its term contract prices

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CCI Daily

for coal supplied by other parties this week. Cargoes of Fenwei CCI Met Index on Jul 07, 2021
5,500 Kcal/kg NAR thermal coal was set at 767 yuan/t, a Price*
Price*
DoD
WoW

(USD/t) (RMB/t) (RMB/t) (RMB/t)

substantial fall of 40 yuan/t from last session; and price
Liulin Low-sulphur 333.3 2,150.0 +110.0 +110.0
for 5,000 Kcal/kg NAR cargoes were at 701 yuan/t, Liulin High-sulphur 271.3 1,750.0 0.0 0.0
down 13 yuan/t from a week ago. Anze Primary Coking 379.8 2,450.0 0.0 0.0
This is likely to make other mines, especially those Lingshi Fat 255.8 1,650.0 0.0 +50.0
in Ordos, follow suite. A wide-scale price fall at China's Puxian 1/3 Coking 279.1 1,800.0 +100.0 +100.0
major production areas is around the corner. Changzhi PCI 193.8 1,250.0 0.0 0.0
Looking ahead, China's seven major river basins will Shandong Semi-soft 204.7 1,320.0 0.0 0.0
enter the flood season in July as north China is expected *EXW basis; includes VAT at 13%.
to enter rainy season ahead of previous years while
south China will see end of wet weather. Rising
hydropower generation is about to play a better role in
substituting coal-fired power generation, potentially
undermining miners' bargain power.
China border crossing resumes Mongolian coking
coal imports after 3-wk closure
China's largest inland port Ganqimaodu in Inner
Mongolia resumed coking coal imports from the
neighboring Mongolia in midweek after three weeks of
closure due to deteriorating COVID-19 pandemic in the
landlocked country.
The port's reopening, despite being postponed for
several times, would raise Mongolian coking coal
imports to alleviate the supply tightness in the Chinese
market. But market sources said it would still take time Fenwei CCI Met Assessment on Jul 07, 2021
ahead of the full operation. Basis Price*
Price*
DoD
WoW

(USD/t) (RMB/t) (RMB/t) (RMB/t)

It was originally expected that more than 50 trucks Met. Coal
would complete customs clearance at the checkpoint on Tangshan Fat Ex-plant 294.6 1,900.0 0.0 +150.0
July 6, but it turned out that no trucks were allowed as Non-Australia HCC^ CFR 308.5 1,999.1 +9.4 +9.4
drivers have their transport permits expiring. They did TS Mongolia Prem Ex-stock 336.4 2,170.0 0.0 +20.0
covid test in advance though, a necessary step for entry Rizhao Import HCC Ex-stock 311.6 2,010.0 0.0 0.0
to Chinese territory. Ganqimaodu Prem Ex-stock 294.6 1,900.0 0.0 +50.0
The Chinese customs authorities will prioritize Rizhao Import PCI FOB 219.4 1,415.0 0.0 0.0
clearance of a total 1,900 coal trucks that were Ceke 1/3 Coking Ex-stock 167.4 1,080.0 0.0 +70.0
previously stranded on the way to China due to outburst Met. Coke
of the virus before drafting a new specific plan, and the Jinzhong Grade II Ex-plant 387.6 2,500.0 0.0 0.0
daily clearance is temporarily set at 100 trucks for the Tangshan Grade II DDP 418.6 2,700.0 0.0 0.0
coming days, Sxcoal learned. Rizhao Grade II DDP 415.5 2,680.0 0.0 0.0
Rizhao Quasi Grade I FOB 437.2 2,820.0 0.0 0.0
But uncertainties remain in the short run, as unclear * includes VAT at 13%; ^ excludes 13% VAT; TS, Tangshan
import scenario during Mongolia's Nadam Fair break
from July 10-18 and uncertain COVID-19 infection
situations ahead will largely impact coking coal
shipments to China.
Sxcoal learned whether border crossings will be
temporarily shut for the nine-day break has yet to be
decided after negotiations between China and Mongolia
sides.
Ganqimaodu, taking nearly 60% of coking coal
imports from Mongolia, once logged the highest entry
of coal trucks of 1,492 from Mongolia in late August last
year, when China had already started barring Australian
coal due to rising trade spat.
However, the average clearance slumped drastically
to 227 trucks in the first five months of 2021, compared
with 506 trucks last year.
Mandala border crossing, another China-Mongolia
inland port that accounts for 2% of coking coal imports,

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CCI Daily

remained closed due to damage on roads. Fenwei CCI Truck Freight on Jul 07, 2021
It is expected that more Mongolian coking coal Price
Price
DoD
WoW

(USD/t) (RMB/t) (RMB/t) (RMB/t)

cargoes could be imported through Mandula and Xiaoyi-Rizhao 31.0 200.0 0.0 -7.0
Erenhot border crossings in the fourth quarter alongside Ordos-Huanghua 36.9 238.0 0.0 0.0
operation of railway from Tavan Tolgoi coal mine to Liulin-Tangshan 34.1 220.0 0.0 +2.0
Zuunbayan in Dornogovi province. Shenmu-Xinzhou 12.9 83.0 0.0 0.0
Offer prices of Mongolian premium coking coal kept
rising amid scarce resources during closure of
Ganqimaodu and tight domestic material supply.
Prevailing offers for Mongolian 5# raw coal were 1,550-
1,580 yuan/t, while that for 5# washed coking coal was
firm at 1,780-1,830 yuan/t, both ex-stock Ganqimaodu
with VAT.
The price edge of Mongolian premium coking coal
over domestic similar-quality coal narrowed to 353
yuan/t on July 6 from 371 yuan/t on June 30 after price
rises, although still competitive compared with a price
advantage of 203.58 yuan/t for non-Australia premium
coal, all on DDP Tangshan basis with VAT.
Chinese market has been subject to coking coal
tightness due to a string of safety accidents and the
China Coastal Coal Freight on Jul 06, 2021
100th anniversary of the CPC, which both increased Vessel Size
Freight
Freight
DoD
WoW

safety pressure on coal mines and drove output cuts or (1,000DWT) (USD/t) (RMB/t) (RMB/t) (RMB/t)
halts. QHD-GZ 50-60 7.3 47.3 +1.8 +0.6
Most mines in Luliang, Linfen and Changzhi, major QHD-SH 40-50 4.7 30.3 +0.7 +0.6
coal production hubs in Shanxi, were heard to have HH-SH 30-40 5.0 32.3 +0.4 +0.6
Source:Shanghai Shipping Exchange
restored operations this week after the anniversary, and
their production has generally reached the pre-
anniversary levels, sources told Sxcoal.
According to one Luliang-based miner, production
resumption rate in Liulin, a major coal hub for premium
coking coal in Luliang city, exceeded 90% after the July 1
celebration.
In spite of this, premium coking coal supply still fell
short of demand from coke producers which basically
got back to normal production this week.
One Changzhi-based coking plant source said his
stockpiles of primary coking coal could only cover 4-5
days of consumption, and coal prices may not sink down
quickly.
Coal prices haven't showed a clear trend lately, as Seaborne Coal Freight on Jul 07, 2021
no new offer prices were placed as many miners are still Vessel Size
Freight
DoD
WoW

(1,000DWT) (USD/t) (USD/t) (USD/t)

fulfilling previous orders with prices already pegged. Newcastle-Zhoushan 130 15.7 -1.29 +0.15
A positive sign came from hikes of annual term Taboneo-Guangzhou 50 16.6 +0.01 -0.03
prices by Shanxi Coking Coal Group, a large state-owned Hay Point-Zhoushan 85 21.9 +0.20 -0.06
coking coal producer in Shanxi, for the third quarter, Source:Shanghai Shipping Exchange
with rises in a range of 100-150 yuan/t for primary
coking coal and fat coal, effective July 1.
This has been accepted by around 25 major steel
makers, and producers in other areas may also use this
pricing as a benchmark, supporting coking coal prices in
the near term.
China's coke futures down on concerns of steel
production cut
Futures prices of met coke, one key steelmaking
material dropped at the Dalian Commodity Exchange on
July 7 on expectations of production cuts at steel mills.
The most-traded coke futures for September
delivery dropped 22.5 yuan/t or 0.85% to 2,619 yuan/t

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at close of the daytime session on July 7, marking the Coal Ports Roundup 1,000 tonnes, excl.marked*
second day of falling. Qinhuangdao Jul 07 DoD WoW YoY
After the 100th anniversary of the founding of the Rail supply 387 +18.7% -6.7% -22.1%
CPC on July 1, the anticipation of crude steel production Coal handing 497 +57.3% +29.1% 0.0%
cuts strengthened in the market, following some local
Stockpile 4,150 -2.6% -7.8% -16.8%
governments' statements to rein in steel production.
This, coupled with low profits of finished steel, led Vessel queue* 36 -1.0 -5.0 -4.0
to limited restocking intention among steelmakers for Vessel expected* 5 -1.0 -6.0 +1.0
the time being. A few steelmakers told Sxcoal that they SDIC Jingtang Jul 07 DoD WoW YoY
would further destock the raw material. Rail supply 84 -44.4% -22.9% -28.2%
On the supply side, market sources said most coking Coal handing 128 +15.3% -100.0% -18.5%
plants kept running at high or even full capacity from
Stockpile 1,800 -2.4% +20.1% +19.2%
July 2, except those plants in a few regions due to strict
environmental measures. Vessel queue* 12 0.0 -3.0 +3.0
As a result, coke stocks kept low amid accelerated Vessel expected* 1 -1.0 -1.0 -2.0
sales. As of July 5, stockpiles at independent coking Jingtang Terminal Jul 07 DoD WoW YoY
plants surveyed by Sxcoal totaled 162,600 tonnes, Rail supply 92 -35.7% +37.3% -27.0%
compared with the recent high of 635,200 tonnes last Coal handing 77 -33.0% -100.0% +32.8%
year.
Stockpile 2,435 +0.6% +3.8% +45.0%
It was learned that Beijing sent an environmental
inspection team to Shandong lately, leading to a 10-50% Vessel queue* 4 0.0 -6.0 +4.0
cut in operating coke-making capacity in the province. Vessel expected* 5 +4.0 +3.0 +3.0
This resulted in supply shortage locally, and local plants Old Jingtang Jul 07 DoD WoW YoY
were poised to raise their prices, although major mills in Rail supply 61 -9.0% -100.0% -6.2%
Hebei and Shandong were yet to accept the first round
Coal handing 91 -6.2% -100.0% -13.3%
of price hike proposal.
Finished steel strengthening Stockpile 1,090 -2.7% -13.5% -40.4%

Fueled by expectations of production cuts, Chinese Vessel queue* 3 -6.0 -9.0 +2.0
steel prices kept rising this week. Vessel expected* 1 +1.0 -2.0 -2.0
The most-traded rebar futures on the Shanghai SDIC Caofeidian Jul 07 DoD WoW YoY
Futures Exchange for October delivery jumped by 135 Rail supply 176 +10.7% -4.3% -12.4%
yuan/t to 5,439 yuan/t at close on July 7. Hot-rolled Coal handing 240 +23.7% +47.2% +31.1%
coils, used in the manufacturing sector, jumped 3.8% to
5,768 yuan/t, the highest closing price since May 19. Stockpile 3,040 -1.9% -14.4% -21.2%

In the spot market on the same day, rebar (HRB 400, Vessel queue* 17 0.0 +5.0 +6.0
20mm) prices increased 10-50 yuan/t from a day earlier Vessel expected* 3 0.0 -3.0 -6.0
in different cities, while the HRC (4.75mm) registered a Caofeidian Phase II Jul 07 DoD WoW YoY
30-50 yuan/t rally. Rail supply 109 +18.5% -18.7% 0.0%
Square billet in Tangshan saw price increase 30
Coal handing 111 -40.0% +1287.5% -8.3%
yuan/t to around 4,960 yuan/t ex-works with VAT,
market sources said. Stockpile 2,060 -0.1% -16.1% -10.4%

"If crude steel output is curbed as expected in the Vessel queue* 2 -3.0 -18.0 0.0
second half of the year, steel products supply may fall Vessel expected* 3 0.0 +3.0 +2.0
short of demand in the few months," said a Guangdong- Huaneng Caofeidian Jul 07 DoD WoW YoY
based trader. "And demand is expected to strengthen Rail supply 67 +13.6% +13.6% -46.8%
along with easing of the rainy weather."
Coal handing 44 -100.0% -44.3% -45.0%
Shanxi state-owned coking coal producer raises Q3 Stockpile 2,023 +1.2% +1.4% +0.5%
term contract prices
Vessel queue* 2 0.0 -4.0 +2.0
A major state-owned coking coal producer in Shanxi
Vessel expected* 1 -1.0 -2.0 -5.0
province adjusted up annual term contract prices for
the third quarter, according to market sources, Huanghua Jul 05 DoD WoW YoY
highlighting optimistic outlook supported by previous Rail supply 660 +13.8% +15.8% +8.2%
supply woes. Coal handing 670 +11.7% +36.7% +8.1%
The coal giant hiked annual term contract prices for Stockpile 2,099 +1.3% +5.0% +25.0%
low-sulfur premium coking coal for Tunlan and Shaqu
Vessel queue* 44 +4.0 +2.0 +9.0
brands by 150 yuan/t, while prices of primary coking
Guangzhou Jul 07 DoD WoW YoY
coal (S 1.0%) for Zhongxing, Jiexiu and Lishi brands were
lifted by 130 yuan/t, and that of primary coking coal Stockpile 2,280 +1.8% +6.5% -8.1%
with sulfur at 1.8% and 2.3% rose by 100 yuan/t, Sxcoal *actual change, not in percent.
learned from sources.
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CCI Daily
Term contract prices for fat coal were also increased
by 100-150 yuan/t for five brands produced in different
places.
Domestic coking coal shortage has been bolstering
prices since April, and the intensified crunch alongside
the coming of the 100th anniversary of the founding of
CPC on July 1 further accelerated coking coal price
hikes.
Teck downgrades Q3 met coal production guidance for wildfires
Canadian mining group Teck Resources Limited
lowered its metallurgical coal production guidance for
the third quarter by 300,000-500,000 tonnes because of
wildfires happened in British Columbia on June 30,
according to its announcement on July 6.
According to the announcement, wildfires damaged
the rail line near Lytton, which disrupted rail service
between Teck's metallurgical coal operations and west
coast terminals.
The incident, which took place on the last day of
second quarter, hadn't impacted metallurgical coal sales
One coal rail line to South Africa's RBCT resumes after derailment
One railway that delivers coal to Richards Bay Coal
Terminal (RBCT) in South Africa resumed operation in
the afternoon of July 4 local time, after a 31-wagon train
derailed on July 3 that caused two railways out of work.
The operator Transnet said the No.2 line has
reopened after repairs, but the speed was restricted to
15 km/h. The No.1 line was still in a state of suspension
for maintenance.
Transnet said the date of comeback of No.1 line was
not yet determined, while the reason for the derailment
was under investigation. In late April, a similar accident
occurred and forced two lines out of operation for
about one week.
The disruption of railway delivery, coupled with low
stockpiles at the RBCT, sparked concerns on South
Africa's coal supply shortage in the near term, thereby
driving prices to rise further. Data of globalCOAL
showed the prices of the RBCT 6,000 Kcal/kg NAR
thermal coal were assessed at $122.5/t FOB on July 5,
Russia May coking coal exports surge 46.2% MoM
Russia exported 2.43 million tonnes of coking coal in
May, up 22.6% year on year and 46.2% month on
month, according to data from the Federal Customs
Service of Russia.
The exports amounted to $220 million in May, up
Russia May thermal coal exports rise nearly 15% MoM, China intakes dip 1.92%
Russia's thermal coal exports stood at 12.53 million
tonnes in May, a year-on-year fall of 1.66% but rising
14.61% from April, showed data from the Federal
Customs Service of Russia.
Export value totaled $826 million in the month, up
7.83% year on year and 23.3% month on month.
Despite a year-on-year jump of 46.74%, Russia's
coal shipment to China still fell 1.92% on the month to
2.18
This, together with coke firms' active replenishment,
deepened outlook for a still undersupplied market
despite coal mines' resumption after the celebration.
Some coal firms in Shandong also raised long-term
contract prices by 170-180 yuan/t for the affiliated
mines, and meanwhile changed payment from banker's
draft to cash payment, translating to a total hike of 200
yuan/t.
of last quarter despite its negative effect for production
in the third quarter.
It is expected to affect met coal deliveries to China,
given 2 million tonnes of the total 6.2 million tonnes
was shipped to China in the first quarter this year, the
miner said in the financial report.
The company said all of its operations of the met
coal in British Columbia are still ongoing despite the rail
disruption.
Teck is assessing the overall impacts on customer
shipments and its production, which will be dependent
on the length of the rail disruption.
up $3.75/t from July 2, the new high since May 2011.
The supply shortfall of South African coal raised
expectations of increasing demand for the fossil fuel
from other sources. On July 5, Newcastle thermal coal
prices were assessed at $146.75T. jumping 4.76% from
July 2, the highest ever in the history.
Transnet also announced it would start the annual
maintenance in July 13-19 as scheduled. This may
further concern market participants over the country's
exports.
As of July 2, coal stockpiles at the RBCT totaled 3.4
million tonnes, down from 3.6 million tonnes a week
ago. The RBCT typically needs to hold around 5 million
tonnes of stockpiles ahead of the maintenance to keep
the terminal's exports less affected, a target that seems
impossible to be realized this year.
South Africa exported 26.11 million tonnes of coal
during the first five months, down 8.86% year on year,
the lowest since 2012, the country's customs data
showed.
29.7% year on year and 36.07% month on month.
Russia's coking coal exports totaled 10.96 million
tonnes in January-May, up 2.29% year on year, and the
total export value dipped 0.96% from the year-ago level
to $931 million.
million tonnes in May.
In the month, exports of bituminous coal dipped
2.6% from a year ago to 12.41 million tonnes, increasing
13.89% month on month, while other coal exports
skyrocketed 220% on the month to 123,500 tonnes.
In January-May, Russia's thermal coal exports
totaled 60.05 million tonnes, up 4.59% from a year ago,
while export value ticked up by 5.04% to $3.65 billion.
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