Saturday, 10 Apr 2010
Reuters reported that Spot coal prices in China top coal port Qinhuangdao stayed unchanged from a week earlier while market players monitored the severe drought in the southwest which may further raise coal demand in southern China.
Traders and analysts were also keeping an eye on developments in a few high profile coal mine accidents in the past week, for clues on whether supply would be curbed by tighter government regulation.
The Qinhuangdao Seaborne Coal Market said, the price of coal with calorific value of 5,800 kilocalories per kilogram was unchanged from a week earlier at CNY 725 to CNY 735 a tonne. It also said coal with calorific value of 5,500 kilocalories per kilogram was quoted at CNY 675 to CNY 685 a tonne.
Ms Judy Zhu an analyst at Standard Chartered said "We've noticed lately there been an increasing number of coal vessels heading down to eastern and southern China from Qinhuangdao, as thermal coal demand in Guangdong has gone up due to a lack of hydropower supply from southwestern provinces."
Ms Zhu expected Qinhuangdao prices to resume their ascent if the drought, which has already cut down power supply in provinces of Guangdong and Hubei, does not ease.
According to port data published on sxcoal.com coal stocks in Qinhuangdao fell 5% from a week earlier to 7.6 million tonnes on recently the lowest since end of February.
Source: http://www.steelguru.com/news/index/MTQwNTk1/Chinese_coal_prices_unchanged_and_eyes_on_China_drought.html
Reuters reported that Spot coal prices in China top coal port Qinhuangdao stayed unchanged from a week earlier while market players monitored the severe drought in the southwest which may further raise coal demand in southern China.
Traders and analysts were also keeping an eye on developments in a few high profile coal mine accidents in the past week, for clues on whether supply would be curbed by tighter government regulation.
The Qinhuangdao Seaborne Coal Market said, the price of coal with calorific value of 5,800 kilocalories per kilogram was unchanged from a week earlier at CNY 725 to CNY 735 a tonne. It also said coal with calorific value of 5,500 kilocalories per kilogram was quoted at CNY 675 to CNY 685 a tonne.
Ms Judy Zhu an analyst at Standard Chartered said "We've noticed lately there been an increasing number of coal vessels heading down to eastern and southern China from Qinhuangdao, as thermal coal demand in Guangdong has gone up due to a lack of hydropower supply from southwestern provinces."
Ms Zhu expected Qinhuangdao prices to resume their ascent if the drought, which has already cut down power supply in provinces of Guangdong and Hubei, does not ease.
According to port data published on sxcoal.com coal stocks in Qinhuangdao fell 5% from a week earlier to 7.6 million tonnes on recently the lowest since end of February.
Source: http://www.steelguru.com/news/index/MTQwNTk1/Chinese_coal_prices_unchanged_and_eyes_on_China_drought.html
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