Coal inventories at China’s key transshipment port of Qinhuangdao ran up to a nine-month high last week, as firm inbound deliveries outweighed weaker offtake levels from the port. Stocks in north China’s Qinhuangdao reached 7.26mn t on 10 October, up by around 9pc from a week earlier to hit the highest point since 3 January, according to data released by the coal industry association the CCTD. The stocks then dipped slightly to 7.24mn t as of 11 October. Inbound coal volumes to Qinhuangdao have been increasing as producers and rail companies respond to the Chinese government’s call to ensure that coal stocks are at reasonable levels ahead of the 19th communist party conference in Beijing later this month.
展开▼
