
Coal News & Price Data – November 7, 2023 – Chinese Steelmakers Dilemma
Chinese steelmakers are facing a dilemma as steelmaking margins have been in the negative for over five weeks

Chinese steelmakers are facing a dilemma as steelmaking margins have been in the negative for over five weeks

The average operating rate of blast furnace (BF) steel mills decreased by 0.44 percentage points to 90.94% last week

Chinese premium metallurgical coal prices were steady in early November, driven by soft coke prices and sustained demand from end-users.

China is struggling to digest a growing glut of coal, as robust domestic output and soaring imports increase.

China is facing an oversupply of coal, with robust domestic production and surging imports creating a glut in the market.

Australian metallurgical coal prices have seen a small rally, influenced by factors like supply tightness and market tactics.

Australian mining company South32 experienced an unexpected 18% decline in first-quarter metallurgical coal production.

The interest in seaborne metallurgical coal in China is waning due to a slowdown in steel production and sustained losses in steelmaking.

In first half of October, coal stocks at power plants in India experienced a rapid depletion, dropping by 12.6% to 20.58 million tonnes.

China’s coal production is projected to continue growing this year, albeit at a slower pace due to increased emphasis on cleaner energy.

Seaborne buying interest for CFR China basis increased due to tight domestic met coal supply and higher Q4 prices for domestic PLV.

India’s crude steel output for January-September increased14% compared to the previous year, mainly due to infrastructure growth.