CCTD Daily Views: The purchasing demand for forward imported coal began to fall

Coal-producing market---The thermal coal market in Shanxi, Shaanxi and western Inner Mongolia ran smoothly during the Spring Festival holiday. The coal mines that were in production gave priority to the customers that have the long-term agreements and the fixed customers. The coal-producing mines in northern Shanxi Province during the Spring Festival were mainly state-owned mines with railway transportation. Most coal mines in Yulin area of northern Shaanxi Province have been shut down during the Spring Festival, and some state-owned coal mines have resumed production. The recovery time of some mines was still uncertain. The Ordos region has begun to resume production successively from this week after the festival.
 
Seaborne coal market---During the Spring Festival holiday, the inventories of thermal coal at the northern ports increased steadily and the supply was relatively stable. At present, the six major power groups in the coastal area consume 437.1 thousand tons of coal per day, which has rebounded compared with the holiday period. But the available days of inventory remain above 38 days, and the procurement demand needs to be released.
 
Imported coal market---Indonesian coal prices rose slightly during the holiday period, and Australian coal prices fell slightly due to import restrictions. Some traders said that following Bayuquan Port in the northeast region and Qingdao Port and Rizhao Port, other southern ports have also strengthened their control over the import of Australian coal, and some of the cargo clearance has been extended to more than 40 days. The purchasing demand for imported coal which will arrive in March from coastal users began to fall.