Daily Market Brief -25/07/28

Edited and Updated by Ethan Ma
July 28, 2025

At the production regions:
In Yulin, a relatively large number of small- and medium-sized private coal mines have suspended operations. Combined with the continued increase in non-power sector demand, this has supported market optimism, leading most mine prices to see slight upward adjustments.

In Ordos, procurement demand from both end-users and traders remains strong. Pithead inventories are steadily declining, and prices continue to rise.

In northern Shanxi, coal production and sales have been constrained by rainfall, but inquiries from users remain active and mine auctions are performing fairly well, leading to stable-to-firm price trends.

At the ports:
Coastal rainfall has suppressed daily coal consumption by power plants. Along with increasing difficulty in closing deals at high prices, this has caused a further decline in spot market activity. However, upstream supply has also been affected by rainfall, and the extent of cost inversion of port delivery for traders is widening. As a result, sellers mostly maintain a wait-and-see approach while holding prices firm.

For imported coal:
Seaborne thermal coal prices remained generally stable at the beginning of the week. Several power plants have recently issued tenders, but their price acceptance is limited. Coupled with persistently high international freight rates, most end-users remain cautious. At the same time, miners are reluctant to lower prices, resulting in muted market trading activity.