MOC: China's coal prices fell 0.1% last week

According to Ministry of Commerce of the People's Republic of China(MOC), China's coal prices fell 0.1% last week(November 26- December 2). Among them, the prices of thermal coal were 609 yuan/mt , down0.2% compared with last issue. The prices of coking coal were 773 yuan/mt, up 0.1% compared with last issue. And the prices of anthracite were 889 yuan/mt, the same with last issue.
 
According to statistics from relevant agencies, the daily coal consumption of the six major power plants in the coastal area last week was 560 thousand tons, down 13.5% year on year. And the daily average coal inventories were 18.206 million tons, up 47.7% year on year, which was the highest in data record  since 2013.The procurement enthusiasm of power plant was not high, and coal prices are expected to be weak in the later period.
 
Steel prices fell 3.2% from the previous week. Among them, the prices of high speed wire rod, deformed steel bar and ordinary medium plate were 4,179 yuan/mt, 4,104 yuan/mt and 4,209 yuan/mt, down 3.8%, 3.6% and 2.7% year on year respectively. Affected by the  less-than-expected intensity of environmental production restrictions and other factors, it is expected that steel prices will fluctuate and run weaker in the later period.