China thermal coal market slows as miners take leave for Spring Festival

2018-02-14 08:41:00 Price

Thermal coal market slowed down in China's main production bases as many miners took leave for the Spring Festival.

Most miners have halted production in Yulin, Shaanxi and Ordos, Inner Mongolia, while a few others were still producing or selling stocks.

Some state-run mines arranged maintenance of 5-7 days in northern Shanxi, where washed coal prices dropped modestly. There were no stocks at mines or washing plants and most production had been delivered to rail stations.

"We will maintain normal production," said a Shuozhou-based miner. Adjacent washing plants offered washed 5,500 Kcal/kg NAR coal 15 yuan/t lower at 420-440 yuan/t ex-washplant without VAT.

"Our workers could enjoy holidays over February 15-21," said a Xinzhou-based miner, who predicted post-holiday coal price to keep steady or slide.

He placed offer price for 4,500 Kcal/kg and 5,000 Kcal/kg NAR coal at 375 yuan/t and 425 yuan/t free-on-rail with VAT.

"Our holiday schedule lasts from February 10 to February 12," said a Yulin-based miner, who offered 0.3% sulfur slack 5,900 Kcal/kg NAR coal at 400 yuan/t.

One Ordos-based producer said they would resume coal loading on February 23 after 12-day holiday.

Shanxi Datong 5,500 Kcal/kg NAR coal was at 495 yuan/t mine-mouth on February 11, inclusive of 17% VAT, stable day on day, showed Fenwei CCI assessment. The same-CV material in Ordos, Inner Mongolia stayed unchanged at 407 yuan/t. The mine-mouth price of 5,800 Kcal/kg NAR coal in Yulin, Shaanxi also was stable at 461 yuan/t with 17% VAT.

(Writing by Jessie Jia   Editing by Harry Huo)
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