Insight
Tangshan steelmaking crackdown brings upside for China’s metallurgical coal miners
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Strict production limits were placed on steel mills in Tangshan in mid-March after four mills were caught failing to reduce output during a spell of heavy pollution. The measures led to the national BOF capacity utilisation rate falling, which resulted in booming steel prices. But the incident has raised concerns about how long the measures will persist and whether they will be expanded to other steel-producing areas. We participated in a series of site visits in Tangshan on 15-19 March to figure out the implications for the steel and coking coal markets. Read our insight to find out why we think domestic coal miners could benefit – even though the probability of further steel production cuts remains high. Please read our report to find out more.
Table of contents
- Executive summary
- What happened in Tangshan?
- Tangshan steel production constraints could spread nationwide
- How will this affect coal miners?
Tables and charts
This report includes the following images and tables:
- Declining BOF utilisation rate
- Rebar price upticks
- Coking coal imports reach lowest in recent years
- Coke price collapses
- while the Anze coking coal price stabilises
What's included
This report contains:
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