Commerce Ministry: China’s coal prices rose 0.1% last week

According to the Ministry of Commerce of China, the country’s coal prices rose 0.1% last week (October 29- November 4). Among them, the prices of coking coal and anthracite were 781Yuan/mt and 883 Yuan/mt respectively, up 0.5% and 0.3% respectively. Thermal coal prices were 607 Yuan/mt, the same with the previous week. Power plants’ inventories are still high and continue to rise at present. However, coal prices in the future are expected to vibrate slightly under the influence of the approaching heating season and the flourishing demand.

Steel prices rose 0.1% last week and the cumulative rise was 1.3% in the continuous 4 weeks. Among them, the prices of high speed wire rod, channel steel and screw-thread steel were 4563 Yuan/mt, 4420 Yuan/mt and 4465 Yuan/mt respectively, up 0.4%, 0.3% and 0.2% respectively. Production curtailment around the country has been started recently, and the operating rate of blast furnace and social inventories of steel continue to decrease. Steel prices in the future are expected to remain elevated and be in a strong shock.