China coal short-term outlook April 2020: demand yet to resume as supply boosted Report

Commodity Market Report 30 April 2020

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Report summary

Macroeconomic statistics for March indicated an improved picture month-on-month, with the gradual containment of coronavirus in China. Coal demand has also been recovering, although the key drivers vary between the thermal and metallurgical coal markets. Sluggish demand and overwhelmingly high supply have deteriorated thermal coal prices and will further oppress the price curve in the short term. Meanwhile, metallurgical coal demand and prices have already seen a glimpse of revival through a weak balance between steel mills and coke makers. However, in the long run, the market performance of both coals will largely rely on the pace of recovery in economic activity, attempts to ease the oversupply and further possible stimulus policies from the government. Read our report for more details.

Will floor price save the thermal coal market?
Stabilised coke prices support domestic coking coal prices
Power generation returns to normal despite weak demand
Faster steel destocking restores coking coal demand
March output hit record high

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 power generation (TWh)

Monthly hydro-power generation (TWh)
Monthly throughput at Qinhuangdao port (Mt)
Monthly throughput at Huanghua port (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:

cms-china-short-term-market-report-data.xlsx

XLSX 403.22 KB
China coal short-term outlook April 2020: demand yet to resume as supply boosted

PDF 1.00 MB