Commodity Market Report
China coal short-term outlook February 2024
Report summary
Large-scale and long term cold snaps revitalised China's thermal coal market after the Lunar New Year holiday, with the QHD price increasing to RMB30/tonne. But the boost lasted only a week as gains pared. We think the market is looking for direction with the Two Sessions meetings coming up. Coking coal and coke prices declined in February. Activity in metallurgical coal transactions did not materialise until after the holidays, even though normal operations at steel mills and coking plants managed to consume restocked coal, pushing inventories down. What are the major reasons behind the scene? And what is our view for the following months? Read our report to find the answers.
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