- Wednesday December 08,2021
The most-traded coking coal futures on the Dalian Commodity Exchange closed 0.27% higher at noon on Dec 6, the most-traded coke futures on DCE rose 2.56% and the most-actively-traded thermal coal futures on Zhengzhou Commodity Exchange fell 2.71%, while iron ore futures on DCE rose 2.39%.
The US coal extraction is estimated to grow 8.91% year on year to 583 million short tonsin 2021, and then to have a 6.47% year-on-year to 621 million short tons in 2022, showed the Short-term Energy Outlook from the Energy Information Administration (EIA) on Dec 7.
Shaanxi Coal and Chemical Industry Group created a single day coal-loading record of 5,119 wagons On Dec 5, breaking the last record of 4,518 wagons created on May 8, showed data from Shaanxi Coal Selling and Transportation (Group) Corperation.
China's largest steel-producing hub Hebei said in the 14th FYP (2021-25) that it will promote the gradual relocation of its key steel enterprises in Tangshan, Handan, Cangzhou, Shijiazhuang and Xingtai to the 4 coastal steel bases of Caofeidian, Jingtang port, Fengnan coastal industrial park and Bohai new district, moving more than 70% of the province's steel production capacity to areas near the sea or ports and areas with abundant resources by 2025.
Ulanqab of Inner Mongolia shipped 4.70 Mt of coal over Jan-Oct, up 95.9% YoY and sold 3.07 Mt of coal during the same time, down 17.8% YoY.
- Tuesday December 07,2021
Mongolia's coal exports reached 15.17 Mt in
Jan-Nov, down 43.82% YoY. Nov exports declined 45.44% YoY but rose 16.46% MoM to
1.71 Mt. Exports to China accounted for 83% in Nov, customs data showed.
Daily crude steel output at key member
firms of China Iron and Steel Association (CISA) came in at 1.72 Mt during Nov 21-30,
down 2.61% compared with the previous 10 days and 18.46% lower compared a yr
ago. As of Nov 30, CISA key member steel mills held 12.48 Mt of finished steel
stocks, down 2.81% from late Oct but up 7.43% on the yr.
Canadian Teck Resources announced on Dec 5 that it revised down its Q4 metallurgical coal sales target to 5.2-5.7 Mt from the previous 6.4-6.8 Mt, due to logistics disruptions caused by heavy rain, flooding and mudslides in British Columbia.
China imported 13.27 Mt of steel products over Jan-Nov, down 29.6% YoY. Nov steel products imports were 1.42 Mt, down 23.2% YoY but up 26.4%MoM, showed GAC data.
China's import and export value was combined at 35.39 trln yuan during the first 11 months, up 22% YoY and 24% from same period of 2019, of which export value was 19.58 trln yuan, up 21.8% YoY and 25.8% from the same period of 2019. Import value was 15.81 trln yuan up 22.2% YoY and 21.8% from same period of 2019, with trade surplus at 3.77 trln yuan, according to GAC.
China's crude oil imports declined 7.3% YoY to 467 Mt over Jan-Nov, with import price at 3,191.1 yuan/t, up 39.5% YoY; iron sand imports amounted to 1.04 Mt, down 3.2% YoY, with import price at 1,099.3 yuan/t, up 53.1% YoY, said GAC.
China imported 292 Mt of coal over Jan-Nov, up 10.6% YoY, with import price at 676.9 yuan/t, up 39.7% YoY and imported 110 Mt of natural gas, up 21.8% YoY, with import price at 2,772.7 yuan/t, up 20.7% YoY, said GAC.
Coal exports from Australian Newcastle Port were 12.16 Mt in Nov, up 9.81% YoY but down 14.67% MoM, the lowest since Jun of 2021.
In 2022, average thermal coal price may fall 12-15% YoY to 850-900 yuan/t FOB for benchmark grade, but top listed coal firms may still see performance growth amid upward space of annual term contract price and output increase, according to CITIC Securities.
China's coal market may embrace both robust supply and demand in 2022 after demand surge in 2021 alongside the expected firm industrial power consumption and policy relaxation for real estate sector next year, to return to a largely supply-demand balance, according to CITIC Securities.