- Thursday June 17,2021
In May, output ratio of coke and pig iron was 0.501, the lowest in recent years. Coke supply tightened in May.
Thermal coal offers further edged up at northern ports, given higher coal prices at main production areas and thus higher cost. Though downstream buyers showed increased acceptance to the pricy material, trades stayed thin amid bid-offer gap.
Mongolian COVID-19 update: 2,395 new cases as of 11:00 on June 16, refreshing record high for daily increase and breaking through 2,000 new cases for the fourth straight day. The situation continued deteriorating.
NDRC: market speculation activity started cooling down after a series of measures, bringing down commodity prices like iron ore, steel products and copper.
Chinese coking coal futures closed 2.21% higher at midday of June 17, while rebar futures dipped 0.75%; coke rose 1.37%; thermal coal futures up 1.27%.
Many Chinese utilities issued tenders for import thermal coal with arrival in July and August, shoring up offers for the imported material. Global demand also intensified supply tightness, boosting offers of Indonesian 3,800 Kcal/kg NAR coal at $62-64/t FOB in Supramax shipment.
Shaanxi Coal and Chemical Industry Group
Co., Ltd had delivered 6.72 Mt of coal to Chongqing city as of Jun 10 in the year, surging 38.6% compared with the same period a year ago, Chongqing
Chinese key steel mills produced 2.34 Mt of crude steel averagely each day over June 1-10, up 2.15% from previous ten days and up 13.33% from the year-ago period, CISA data showed. Daily production of pig iron averaged 2.02 Mt, up 3.10% from ten days ago and 11.08% from the year prior,
while that of finished steel stood at 2.20 Mt, down 4.36% from ten days ago but up 16.07% from a year earlier.
China produced 39.15 Mt of coke
in May, up 0.3% compared with the year-ago level but falling 2.52% compared
with 2019. China's
coke output totaled 198.18 Mt during Jan-May, rising 5.9% from
a year ago.
China Coal Energy's commercial coal output was 10.04 million tonnes in May, up 8.2% year on year; sales rose 14.3% to 25.45 million tonnes. In January-May, coal output totaled 47.27 million tonnes, up 7.6% year on year; sales rose 35% to 125 million tonnes.
- Wednesday June 16,2021
China's coke production grew 5.9% on the year to 198.2 million tonnes during January-May with the volume for May up 0.3% on year to 39.15 million tonnes.
Over January-May, China's total output of raw coal rose 8.8% on year to 1.62 billion tonnes with the volume for May up 0.6% on year to 326.3 million tonnes.
Seven miners were trapped by a cave-in mine accident happened in north China's Shanxi province on around 8:00 AM, June 16, 2021, according to local government's WeChat official account.
Hebei Daily said on June 16 that the
province has eliminated steel capacity from 320 Mtpa to within 200 Mtpa over
the 13th Five-Year Plan period (2016-20), with local steelmakers fall from 107
Chinese coking coal futures rose 0.67% as
close of the morning session on June 16, coke futures up 0.94%, thermal coal up
0.26%, while rebar declined 2.25%.