Commodity Market Report

China coal short-term outlook May 2021

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01 June 2021

China coal short-term outlook May 2021

Report summary

China’s coal market experienced tightness in Q2 as a range of supply issues in various producing regions meant that supply struggled to meet robust demand. Both thermal and metallurgical coal prices were well supported at high points, with the QHD price reaching RMB900/t and the Anze premium coking coal price RMB2,200/t. The State Council held multiple meetings to stabilise soaring commodity prices, and a pullback in prices followed. However, we believe prices will still be well supported as supply remains constrained due to mine safety concerns. Read our report to find out more.

Table of contents

  • Surge or slump – prices could go either way
  • Coking coal prices remain high despite drastic swing in steel prices
  • Power cuts appear amid strong demand
  • Slack season for steel demand doesn't mean weak coking coal demand
  • Disrupted supply tightens the market

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:

  • Document

    Coal Markets China Short Term Outlook Data May 2021.xlsx

    XLSX 456.29 KB

  • Document

    China coal short-term outlook May 2021

    PDF 900.85 KB