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China's power utilities are awarding tenders for imported coal at even lower prices, reinforcing expectations of persisting price declines in a buyers' market.
On May 26, several Chinese
Indonesian
thermal coal prices continue to fall on abundant availability
Indonesian thermal coal prices drifted
lower on May 25 under the pressure of competition from other origins that
offer
China's portside thermal coal market witnessed another steep fall on May 26, as buyers shunned purchases in anticipation of further price corrections, traders noted.
On May 26, benchmark
China's
portside thermal coal prices trend lower on multiple factors
Spot thermal coal prices have witnessed a
faster decline at northern China ports, impacted by multiple factors including
e
Trading enthusiasm started to cool in China's coking coal marketon May 26, with lower settlement and failure seen in online auctions after the coke market completed a further round of 50 yuan/t
China's thermal power generators, grappling with a protracted period of losses due to high fuel costs and underutilized capacity, have been witnessing an obvious turnaround since the third quarter in
China's domestic thermal coal prices took a heavy blow from swarming low-priced imported coal from unconventional sources, dashing the hope of a rebound before the summer peak season.
As
Thermal coal
Production area Affected by the accelerated decline in coal prices at the portside market, some major miners cut third-party coal purchases. Some washing plants and traders also sit
China has resumed electricity transmission to Vietnam through Guangxi after a seven-year halt since March 2016, the Belt and Road Portal reported on May 25.
The resumption came after Chin
Shanghaimiao coal-fired power project, located in northern China's Inner Mongolia, was fully operational after the No.4 steam turbine wrapped up a 168-hour trail run, media reported.
This
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China is likely to see a significant sequential decline in coking coal imports from Mongolia in May, with daily inflows through the largest inland border port hitting the lowest in eight month amidst
China's thermal coal imports in April spiked to the highest since December 2020, propelled by strong demand due to clear price advantages against Chinese domestic coal.
China imported 30.
Indonesian thermal coal prices experienced a substantial decline, pressured by sluggish demand from Chinese utilities, which are currently holding high stockpiles.
On May 20, June-loading
Mongolia is on course to increase its coal exports to 50 million tonnes in 2024, said Bold Javkhlan, the country's Minister for Finance, during a plenary session of the State Great Khural on May 18.
China imported 8.39 million tonnes of coking coal in April 2023, rising 97% year on year but down 13.1% from the previous month, according to data released by the General Administration of Customs.
Increased arrivals of competitively-priced Colombian thermal coal have given Chinese buyers the upper hand in negotiating lower prices for cargoes from Indonesia and Australia.
In June, a
Indonesian thermal coal prices drifted lower on May 25 under the pressure of competition from other origins that offered alternatives to China, its major buyer.
On May 25, Chinese traders
India's largest power company, National Thermal Power Corporation (NTPC), has recently announced a series of tenders to procure a total of 3 million tonnes of imported coal to meet the fuel demand of
China's power grid operators are gearing up to meet potential surge in electricity demand during the upcoming summer season.
Based on recent data, experts predicted a significant increase
Coking coal restocking fervor started to ease in the leading production hub of Shanxi after concentrated purchases in the previous week, putting further uncertainty on the near-term market outlook.
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