China coal short-term outlook August 2024 Report

Commodity Market Report 06 September 2024

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Report summary

China experienced a very hot August, which caused gencos to consume more coal. However, Qinhuangdao prices did not rise during the month, as the upward movement in thermal coal prices was countered by weak economic activity, high imports and the upcoming shoulder demand season. Market sentiment deteriorated in August, with lacklustre macroeconomic indicators bringing no respite. Weakness in the futures market led the way, plummeting steel, coke and coking coal prices and fewer trades. Despite languishing coking coal demand, production remained robust, accelerating price declines. So, as we head into a period of high steel demand, are there any positives? What are our prospects for demand and prices? Read our report for more details.