Commodity Market Report
China coal short-term outlook October 2023
Report summary
The QHD price slid slowly to RMB985/t in October, despite winter-like weather in some northeast areas. In addition to the high number of seaborne imports, recovering domestic supply also pushed the price downward. Coal inventory at ports, as a key indicator of the market, also increased significantly in October. We expect the upward trend to continue in November. More steel mills finally started to slow down their blast furnaces after suffering months of low or no margins. However, we don’t think they are determined enough to do so consistently as some of them still have access to the term-contracted low-priced coal. The price arbitrage with the spot market coal somehow supports the steel mills with the illusion of producing more, even with slim margins, so they can squeeze the high-cost mills out of the market.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
China coal short-term outlook March 2024
Continued slump in China’s property sector is crippling demand and raw material prices
$5,000
Commodity Market Report
China coal short-term outlook January 2024
Thermal and metallurgical coal imports hit record highs in 2023
$5,000
Commodity Market Report
Global thermal short-term outlook April 2024
Volatility increasing as shoulder-season demand competes with supply issues including Russia sanctions and the Baltimore bridge collapse.
$5,000