China’s Qinhuangdao port coal stocks rise

摘要

Coal inventories at China’s main trans-shipment port of Qin- huangdao rose from a week earlier but remained below typical levels for the summer restocking season, as domestic produc- ers struggled to raise output. Coal stocks at Qinhuangdao port rose by 180,000t from 1 July to 4.99mn t on 7 July, although this is still well be- low 5.74mn t and 6.76mn t on the same days in 2019 and 2018, respectively. Supply tightness and rising domestic coal prices yesterday prompted major Chinese state-owned utility Huaneng to announce that it will reduce purchases of spot car- goes to halt the rise in domestic spot coal prices, given tighter customs restrictions on cheaper imported coal.