Commodity Market Report
China coal short-term outlook April 2019: regional mining restrictions stop thermal price fall
Report summary
In April, thermal coal prices fluctuated between RMB627/t and RMB 639/t, before returning to RMB526/t at the end of the month. Despite improvement in China’s total coal output, regional thermal coal supply was briefly squeezed by mining restrictions, which weighed on thermal coal demand in coastal areas and resulted in upward price fluctuation. Metallurgical coal prices continued dipping before firming up in the second half of the month. The largest driver of the price movement was improving coke profits amid burgeoning crude steel output.
Table of contents
- Mining restrictions prevent QHD price fall
- HCC prices will gain on a turnaround in coke prices in May
- Growing cross-region electricity transmission curtailed power coal demand in the coastal region
- Coking coal demand to recover on the back of improving coke profits
- National coal output increases despite accident-triggered regional decline
Tables and charts
This report includes 10 images and tables including:
- Key thermal coal prices: history and forecast (US$/t)
- Hard coking coal price arbitrage at Tangshan steel mill, US$/t nominal
- Monthly coal-fired generation, TWh
- Monthly hydro-power generation (TWh)
- Monthly throughput at Qinhuangdao, Mt
- Monthly throughput at Huanghua, Mt
- Monthly hot metal production, Mt
- Monthly metallurgical coke production, Mt
- Thermal coal supply (Mt)
- Metallurgical coal supply (Mt)
What's included
This report contains:
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