Weekly Port Review(250623): Traders Become More Reluctant to Lower Prices
Time:2025-06-23 16:11:19 Source:CCTD
Updated By Ethan Ma June 23, 2025
Port-Side Thermal Coal:
This week, coal prices at ports remained generally stable with a slight upward trend. The pace of inventory drawdown at ports slowed significantly. As high temperatures increased, expectations of rising demand improved, leading to some replenishment of short positions and speculative buying. Meanwhile, supply at the production sites has tightened, with more coal mines raising prices. Traders became increasingly reluctant to lower prices, especially for mid- to low-calorific value coal, which remains relatively scarce and cost-competitive.
As of June 20, the CCTD Bohai Rim Thermal Coal Spot Prices stood at:
• 5500 Kcal/kg: ¥619/ton (up ¥1 week-on-week)
• 5000 Kcal/kg: ¥541/ton (up ¥4)
• 4500 Kcal/kg: ¥476/ton (up ¥3)
CCTD China Coal Market Network is one of the most trusted coal industry think tanks in China, providing exclusive and extensive data coverage.
End-User Demand:
As of June 19, 2025, coal consumption by eight coastal provinces reached 1.789 million tons, an increase of 39,000 tons from the same day last week, but a decrease of 154,000 tons compared to the same period last year.
Coal inventories stood at 34.801 million tons, up 522,000 tons from last week, yet 3.469 million tons lower than the same period last year.
Weather Conditions:
In recent days, northern North China and the Jianghuai region experienced heavy rainfall. Typhoon “Buttefly” affected southern China. In the coming days, strong rainfalls are expected in Jianghuai and Huanghuai regions, as well as southern Sichuan and Yunnan. Major rainfall areas will include eastern Southwest China, Jianghan, Huanghuai, Jianghuai, western and northern Jiangnan, South China, and eastern Tibet. Compared to seasonal norms, rainfall is projected to be 20% to 70% higher in regions such as Jianghan, Jianghuai, Huanghuai, northern Northeast China, and parts of Southwest China, with localized increases of up to 100%.
Shipping Rates:
Coastal coal freight rates remained weakly stable this week. During the current plum rain season, hydropower continues to squeeze thermal power usage, leading to a sluggish rebound in daily coal consumption at coastal power plants. With inventories staying above safety levels, restocking demand is relatively limited. The coastal market remains quiet with few new cargoes, putting pressure on freight rates.
As of June 19, the China Coastal Bulk (Coal) Freight Index stood at 685.6 points, up 33.8 points from June 12.
·Qinhuangdao → Guangzhou (50,000–60,000 DWT): ¥40.3/ton, up ¥1.4 week-on-week
·Qinhuangdao → Shanghai (40,000–50,000 DWT): ¥26.4/ton, up ¥1.8 week-on-week
Inventory:
Northern port coal inventories saw a slight increase this week. Thanks to earlier measures to clear port backlogs, inventory pressure has been relieved. Rail transport volume has gradually rebounded, and inbound deliveries have returned to moderately high levels. On the outbound side, however, constraints remain: daily coal consumption at coastal power plants is sluggish, and restocking demand has not yet been fully activated. As a result, outbound shipments declined slightly and fell short of inbound deliveries, leading to a modest increase in port inventories this week.
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