Qinhuangdao port had 4.97 Mt of coal stocks as of early May 1,  down 1.58% DoD and 3.12% lower  than a week ago.

Qinhuangdao port shipped out 0.6 Mt of coal in 24 hours ended early morning of May 1,  down 1.79% DoD and 30.87% higher  than a week ago.

Qinhuangdao port received 0.52 Mt of coal via railways in 24 hours ended early morning of May 1,  down 7.1% DoD and 27.56% higher  than a week ago.

Chinese large steel companies finally oked the fourth coke price increase, not long after being proposed by coking plants at the start of this week, as they had urgent needs for restocking before the May Day holiday.
&nbsp;
Meanwhile, coke supply remained relatively tight as the overall capacity utilization has yet to resumed to normal in the industry, although some ramped up production amid improved margins.
&nbsp;
The fast-increasing feed coal prices continued to prevent many coke producers from making money and operating at full capacity, which has pushed some producers to maintain production restrictions to mitigate losses.
&nbsp;
A major steelmaker in China's top steel hub Hebei province announced to lift its purchase prices for Grade I wet-quenching coke by 100 yuan/t to 2,210 yuan/t, and Grade I dry-quenching coke by 110 yuan/t to 2,505 yuan/t, delivered basis with VAT, effective May 1.
&nbsp;
In Shandong, eastern China, with the fourth hike widely accepted, new buying prices for Grade I wet-quenching coke increased 100 yuan/t to 1,970 yuan/t for local suppliers and 1,980 yuan/t for non-local ones. Grade I dry-quenching coke climbed 110 yuan/t to 2,320 yuan/t for all suppliers, delivered basis with VAT and on banker's draft.
&nbsp;
The resumption of blast furnaces led to a rise in molten iron output at steel mills, causing surging daily consumption of coke. Depleting stocks of the steelmaking material pumped up on-demand purchases among steelmakers.
&nbsp;
"Coke inventories have been consistently decreasing at steel mills, with inventories in a company dropping 56,000 tonnes compared to the previous week to 350,000 tonnes this week," a trader from Shanxi told Sxcoal, expecting a fifth coke price rise after the holiday period.
&nbsp;
Smooth sales to steel firms and speculative traders helped coking plants hold low or even zero coke stocks, which, in turn, further spurred the coke market.
&nbsp;
"With the realization of the fourth price increase, we will be able to achieve marginal profits. We are already running at full capacity and shipping cargo normally with no inventory remaining," said a coke producer in Luliang of Shanxi. "Our products are mainly supplied to steel mills, especially to low-stocked mills in Tangshan of Hebei."
&nbsp;
In addition, more coking plants have completed their pre-holiday restocking of coking coal and started to shy away from purchases of high-priced grades. Steep growths in coking coal have slowed down within a few days.
&nbsp;
On April 30, the CCI assessments for Luliang and Tangshan Quasi Grade I metallurgical coke increased by 100 yuan/t from a day ago to 1,910 yuan/t, ex-plant with VAT, and 2,110 yuan/t, DDP with VAT, respectively, while Rizhao Quasi Grade I Met coke stood at 2,050 yuan/t, up 50 yuan/t, FOB with VAT.
&nbsp;

Chinese large steel companies finally oked the fourth coke price increase, not long after being proposed by coking plants at the start of this week, as they had urgent needs for restocking before the 

China's 4th coke price hike accepted by steelmakers amid resilient pre-holiday needs

Indonesian thermal coal prices are likely to rise somewhat in May and the momentum may extend into early June, said several market sources, citing solid demand from China, India as well as Southeastern Asia.
&nbsp;
China's demand for seaborne import coal is contingent upon its domestic developments. For the time being, the domestic market has been on the rise since early last week despite being at a slow pace.
&nbsp;
China's domestic market gained momentum from the top mining group's latest price adjustments. On April 30, the group announced price rallies by 3-18 yuan/t across a wide spectrum of grades it bought from other mines in Inner Mongolia.
&nbsp;
This is widely deemed as a barometer of the market dynamics as it would drive up the cost of its sales at Huanghua port, alleviating its competitive pressure on other traders.
&nbsp;
After that, the domestic market eked out another price rally on April 30, the last trading day ahead of the May Day holiday. Some Shanxi 0.6%-sulfur 5,000 Kcal/kg NAR coal was traded at 760 yuan/t FOB with VAT.
&nbsp;
Many utilities have recently approached the utility for coal purchases at a negotiable price. Leaders of some utilities asked their procurement department to cease seaborne and buy from the group instead.
&nbsp;
As the group's cost has increased and so will its selling prices, Chinese utilities may return to the overseas market.
&nbsp;
On April 29, a South China-based utility awarded Indonesian 3,800 Kcal/kg NAR coal at 543 yuan/t for May delivery and 545 yuan/t for June delivery, DDP with VAT. The prices increased compared with Sxcoal's assessment of 538 yuan/t on April 26.
&nbsp;
With a rise in utility tender prices, the spot prices are rising accordingly. Some Panamax 3,800 Kcal/kg NAR coal was already offered at $58-59/t FOB, moving close to the $60/t mark, which hasn't been seen since November 1, 2023.
&nbsp;
There were not many bids around due to the holiday effect. A few for May-loading cargoes of 3,800 Kcal/kg NAR coal were at a premium of $1.5/t for Supramax cargoes and $3/t for Panamaxes.
&nbsp;
Meanwhile, India's demand has rebounded and their interest is shifting from expensive Australian coal to Indonesian coal. Sources reported decent demand for cargoes from ultra-low, low, and mid-CV cargoes, preparing for stockpiles ahead of the monsoon season when domestic production and transport would be heavily curbed.
&nbsp;
Some 4,100 Kcal/kg GAR blended coal with 0.8% sulfur from Indonesia was offered at $55/t FOB.
&nbsp;
Meanwhile, scorching weather and softened hydropower generation prompted southeastern Asian countries to ram up coal imports, such as Vietnam and Thailand.
&nbsp;
Intense heat seared Southeast Asia, sending cooling demand surging. Philippine President Ferdinand Marcos Jnr warned of possible brownouts. In Thailand, temperatures soared to record highs of around 44 Celsius degrees in some areas and authorities warned of even more scorching weather in the coming days.
&nbsp;
Thailand's power usage surged to another record of 36.7 GW on April 29 amid soaring temperatures, according to data on the state energy regulator's website. That was the third time demand hit a new peak in about one week.
&nbsp;
In Vietnam, the temperatures maximized 40 degrees on April 30. Despite a decline in the coming week to around 31-33 degrees, power plants are on track to run at full capacity. A month ago, Prime Minister Pham Minh Chinh vowed there would be no more electricity shortages at a meeting with foreign investors.
&nbsp;
In March, Vietnam imported 5.43 million tonnes of coal, jumping 46% year on year to an 8-month high, customs data showed. &nbsp;
&nbsp;
On April 30, the CCI index for Indonesian 4,700 Kcal/kg NAR thermal coal was at $85.0/t CFR South China, and $76.0/t FOB Kalimantan, both unchanged day on day. The CCI index for Indonesian 3,800 Kcal/kg NAR coal was assessed stable at $66.7/t CFR and $56.2/t FOB.
&nbsp;
The CCI index for Australian 5,500 Kcal/kg NAR coal stood at $104.5/t CFR South China, $0.5/t higher than a day earlier.
&nbsp;

Indonesian thermal coal prices are likely to rise somewhat in May and the momentum may extend into early June, said several market sources, citing solid demand from China, India as well as Southeaster

Indonesian thermal coal prices may rise in May, market sources

On Apr 30, 2024, the CCI index for Ordos 5,500 Kcal/kg NAR coal was 624 yuan/t, mine-mouth with VAT,  rising 4.0 yuan/t  DoD and  rising 14.0 yuan/t  WoW.

On Apr 30, 2024, the CCI index for Yulin 5,800 Kcal/kg NAR coal was 688 yuan/t, mine-mouth with VAT,  flat  DoD and  rising 1.0 yuan/t  WoW.

On Apr 30, 2024, the CCI index for Datong 5,500 Kcal/kg NAR coal was 685 yuan/t, mine-mouth with VAT,  rising 4.0 yuan/t  DoD and  rising 10.0 yuan/t  WoW.

On Apr 30, 2024, the CCI index for Shanxi low-sulfur coking coal was 2000 yuan/t, mine-mouth with VAT,  flat  DoD and  rising 4.0 yuan/t  WOW.

On Apr 30, 2024, the CCI index for Shanxi Quasi Grade I met coke was 1910 yuan/t, mine-mouth with VAT,  rising 100.0 yuan/t  DoD and  rising 200.0 yuan/t  WOW.

The majority of Chinese cement companies suffered declines in business operations during the first quarter, with some even reporting net losses.
&nbsp;
Anhui Conch Cement, the largest cement manufacturer in China, recorded an operating income of 21.33 billion ($2.9 billion) yuan in the first quarter of 2024, down 32.08% year on year, while net profit slumped 41.14% year on year to 1.50 billion yuan. It attributed the declines to the drops in sales and selling prices.
&nbsp;
In 2023, the company's operating income increased 6.80% year on year to 141 billion yuan, while net profit dropped 33.40% on the year to 10.43 billion yuan.
&nbsp;
Jidong Cement's operating income was 3.34 billion yuan in the first quarter, down 35.56% from the previous year. Its net loss reached 1.10 billion yuan.
&nbsp;
China's above-scale cement enterprises (annual revenue above 20 million yuan) produced 336.84 million tonnes of cement in January-March 2024, down 11.8% year on year, according to the National Bureau of Statistics.
&nbsp;
The decline could reach 16.3% if all the cement producers are counted, some research organizations said, noting production in North and Northwest China would have dropped some 28%.
&nbsp;
During the first quarter, cement production fell 46.9% in Ningxia, 30% in Tianjin and Qinghai, and 20% in Inner Mongolia, Liaoning and Guizhou.
&nbsp;
This was mainly due to a significant contraction in cement demand, caused by the slow start of construction activities, coupled with a lack of government funding and a reduction in construction projects.
&nbsp;
Besides, the suspension of some major projects in high-risk debt provinces also impacted the demand for cement.
&nbsp;
In terms of price, the cement price had not seen any meaningful rebounds but falling all way down. As of the end of March, the China cement price index dropped to 105.45 points, down 7% from early January and 25.4% of the year-ago level.
&nbsp;
In breakdown by region, 29 of 31 provinces in China witnessed a decline in cement prices, especially southern China provinces suffering a drop of 20-30% year on year.
&nbsp;
As a whole, the cement industry faced shrinking demand, fierce competition, high inventory and low prices. Despite efforts in some regions to stagger production and delay the start of kilns in the first quarter, slow destocking by manufacturers persisted due to the weak demand.
&nbsp;
By the end of March, the clinker inventory ratio stood at 62.8%, remaining at a relatively high level compared to the same period in history.
&nbsp;
It has not only been the loss of individual enterprises, but the whole industry. Industry sources forecast more than 90% of cement enterprises may have fallen into losses in the first quarter.
&nbsp;
Insiders expected cement demand to increase in the second quarter, backed by further stabilizing of the real estate industry and the issuance of special bonds.
&nbsp;
However, it's also important to note that there may be uncertainties regarding the number of projects starting construction, and overall cement demand may still fall short of the same period last year.
&nbsp;
With high inventory pressure, the upward space for cement prices would be greatly restricted, and profits of cement producers may remain at relatively low levels of the past few years.
&nbsp;
Cement companies need to adjust their expectations, pointed out one senior official with Anhui Conch Cement. "We're unlikely to return to the era of high profits, so it's important to adopt a more realistic mindset when approaching the market."
&nbsp;

The majority of Chinese cement companies suffered declines in business operations during the first quarter, with some even reporting net losses.Anhui Conch Cement, the largest cement manufacturer in C

China's cement producers see Q1 losses worsen

April saw fluctuating international thermal coal prices, starting with a slight drop and then rebounding, though with moderate volatility.
&nbsp;
In the first half of the month, &nbsp;after the temporary impact of Baltimore bridge collapse in the U.S., market sentiment weakened due to weak demand from key buyers, despite anticipated short-term supply reductions, leading to an overall downward trend.&nbsp;
&nbsp;
Moving into the latter half, major coal-exporting nations maintained steady seaborne supply. Yet, geopolitical tensions sparked worries of supply disruptions in broader energy markets, boosting optimism in the coal market. Concurrently, there was an uptick in market demand, driven by increased procurement from China and India, along with the Southeast Asian region, contributing to a modest price recovery internationally.
&nbsp;
Main Supplying Countries
Australia
Prices of high-CV thermal coal from Australia experienced a decline followed by a rise in April, with end-month prices notably higher than those at the beginning of the month.
&nbsp;
During the first half of the month, reduced electricity consumption and increased nuclear power generation in Northeast Asia suppressed demand for Australian thermal coal. However, in the latter half, high-CV prices rebounded due to tight supply in European and tensions in the Middle East.
&nbsp;
As of April 26, the price of 6,000 Kcal/kg NAR thermal coal at Newcastle Port, Australia, was $134.9/t, marking a 5.56% increase from $127.8/t at the end of March.
&nbsp;
<img src="https://cos.sxcoal.com/news/2024_image_1785208411251236864.png" data-sider-select-id="fe81abd3-63a4-486a-b6b9-52caf8417eb6" />
&nbsp;
Indonesia
The Indonesian Ministry of Energy and Mineral Resources released the April reference prices for thermal coal, where the HBA for 6,322 Kcal/kg GAR coal increased 10.35% month on month to $121.13/t, while HBA I (5,300 Kcal/kg GAR) felled 2.07%, HBA II (4,100 Kcal/kg GAR) rose 0.6%, and HBA III (3,400 kcal/kg GAR) fell 3.4%.
&nbsp;
<img src="https://cos.sxcoal.com/news/2024_image_1785208501575712768.png" />
&nbsp;
In early April, despite increased inquiries from Chinese buyers, actual market transactions were limited, resulting in price softening. However, approaching the end of the month, with a rise in Chinese demand in anticipation of peak demand in the summer, prices strengthened. Meanwhile, India's pre-monsoon procurement also supported the market.
&nbsp;
On April 29, Sxcoal assessed Indonesian 3,800 Kcal/kg NAR coal at $56.2/t FOB, down $0.1/t MoM; Indonesian 4,700 Kcal/kg NAR was assessed at $76/t FOB, down $1.5/t.
&nbsp;
<img src="https://cos.sxcoal.com/news/2024_image_1785209010122350592.png" />
&nbsp;
South Africa
Thermal coal prices in South Africa declined from a recent high at the end of March. As of April 26, the price of 6,000 Kcal/kg NAR thermal coal in South Africa was at $103.1/t, a 9.16% decrease from $113.5/t at the end of the previous month.
&nbsp;
The price hit the highest since early January in late March, propelled by market fears of supply disruptions after Baltimore bridge collapse. But after that, the price moved downward in a volatile way. In the last few days, low stockpiles at RBCT and periodical demand from India bolstered the price, leading to a small rebound. &nbsp;
&nbsp;
In March, South Africa's RBCT thermal coal exports totaled 4.72 million tonnes, an 8.04% rise YoY yet down 11.65% MoM.
&nbsp;
Russia
Russian thermal coal prices extended the downturn from a month ago. As of April 26, Sxcoal assessed Russian 5,000 Kcal/kg NAR coal at $82.5/t FOB Far East ports, down $2.5/t MoM; Russian 5,500 Kcal/kg NAR coal was assessed at $92.5/t FOB, down $2.5/t MoM.
&nbsp;
The Russian government announced a temporary exemption of export tariffs on thermal coal and anthracite to support domestic struggling coal industry. The exemption is valid from May 1 until August 31. The tariff rates range 4% to 7% depending on the ruble's exchange rate against the dollar.
&nbsp;
Kpler data showed, Russian seaborne coal exports totaled 10.86 million tonnes in March, down nearly 30% YoY and 8.11% Mom. Thermal coal exports were 6.54 million tonnes, down 28.52% YoY and 11.3% MoM.
&nbsp;
Major Importing Countries
China
China's demand for seaborne thermal coal was resilient despite the yuan's depreciation adding the import cost. Chinese utilities issued a string of tenders focusing on May-loading cargoes, with awarded prices falling slightly though.
&nbsp;
Chinese traders reported persistent gap between their purchasing prices and the tender awarded prices, with the latter often lower than the former. To deliver cargoes in a timely manner, traders had to cover their short positions, even at a time when they were in a lossmaking.
&nbsp;
These pressing needs prevented the market from large declines.
&nbsp;
In March, China imported 32.38 million tonnes of thermal coal, up 2.73% YoY and 25.13% MoM. These imports were valued at $2.68 billion, down 19.44% YoY. The average import price was calculated at $82.8/t, down $22.79/t YoY.
&nbsp;
Japan and South Korea
Both Japan and South Korea witnessed declines in thermal coal imports in March compared to the previous year and the previous month.
&nbsp;
Japan imported 7.64 million tonnes of coal in March, down 10.18% YoY and 2.19% MoM. South Korea's thermal coal imports reached 5.32 million tonnes, down 28.68% YoY and 31.21% MoM.
&nbsp;
India
India extended the deadline for maintaining full-load operation of imported coal-fired power plants until October 15, expecting increased electricity demand during the summer.
&nbsp;
Additionally, India's coal ministry announced efforts to increase coal stocks at power plants to prevent power shortages during peak demand periods. By the end of June, India's coal stockpiles were scheduled to reach 38-40 million tonnes, about 13-19% higher than the same period last year.
&nbsp;
In March, India's 12 sate ports imported 17.11 million tonnes of coal, down 1.28% YoY but up 18.93% MoM. Thermal coal imports reached 11.53 million tonnes, down 6.15% YoY but up 20.63% MoM.
&nbsp;

April saw fluctuating international thermal coal prices, starting with a slight drop and then rebounding, though with moderate volatility.In the first half of the month, ?after the temporary impact of

Monthly: Int'l thermal coal market in slow demand recovery; prices fluctuate

China's metallurgical coke prices rose by 300-330 yuan/t in the latter half of April following eight successive drops. This increase was driven by steelmakers increasing procurement due to better margins and traders engaging in speculative buying with rising futures markets.
&nbsp;
March supply-demand summary
&nbsp;
<img src="https://cos.sxcoal.com/news/2024_image_1785179474202681344.png" />
&nbsp;
The supply of coke was 39.38 million tonnes in March, up 1.33% from the previous month; the accumulative supply over February-March dipped 0.40% year on year to 119.92 million tonnes last year.
&nbsp;
Coke demand was 40.28 million tonnes in March, up 2.46% month on month; the total demand stood at 121.97 million tonnes in the first quarter, up 3.31% year on year.
&nbsp;
As a result, March saw a slight shortfall of 897,800 tonnes, expanding from 448,700 tonnes in February.
&nbsp;
Analysis of April market
CR Coke Price Index
The CR Coke Price Index rebounded compared with the month-ago level. On April 29, the CR China Met Coke Price Index (CRMP) stood at 196.8 points, up 5.59% compared with the end of last month but down 15.04% year on year; the CR China Met Coke Stock Index (CRMS) rose 4.15% on the month and 0.84% from a year ago to 79.98 points on the same day.
&nbsp;
<img src="https://cos.sxcoal.com/news/2024_image_31621051641714454913513_1785179411938377728.png" width="523" height="311" />
&nbsp;
Transfer port
The portside coke prices moved upward last month. On April 29, Fenwei's assessment of Quasi Grade I met coke at Tianjin port stood at 2,000 yuan/t FOB with VAT, rising 9.29% month on month but falling 6.98% year on year.
&nbsp;
Main areas
Shanxi Most coking plants still incurred losses in April. Previous coke price cuts and the improved steel market prompted steel mills to increase coke buyings, leading to smoother coke sales at coking plants. Some coke makers scaled up production, while those with large losses maintained production restrictions.
&nbsp;
On April 29, the price of Jinzhong Grade II coke in Shanxi was assessed at 1,690 yuan/t and that of Luliang Quasi Grade I coke stood at 1,810 yuan/t, both up 200 yuan/t month on month. The prices, however, were 12.89% and 12.14% lower respectively compared with the year-ago levels.
&nbsp;
<img src="https://cos.sxcoal.com/news/2024_image_20327868151714454913515_1785179412013735936.png" width="524" height="315" />
&nbsp;
Hebei and Shandong Steelmakers in the two major areas restarted some blast furnaces amid improved profit margins last month, fueling coke demand. However, most producers maintained on-demand purchases and focused on consuming existing stocks, providing limited support to coke prices.
&nbsp;
On April 29, Tangshan Grade II coke price was assessed at 1,890 yuan/t, up 200 yuan/t or 11.83% month on month and rising 11.68% year on year, and the price of Tangshan Quasi Grade I coke was 2,010 yuan/t, up 200 yuan/t or 11.05% compared with the month-ago level and increasing 11.06% year on year.
&nbsp;
In Shandong, Rizhao Grade II coke was assessed at 1,740 yuan/t on the same day, up 12.99% from a month ago and 15.53% year on year.
&nbsp;
Coke inventory
Coke stocks declined at coking plants and steel mills but accumulated at north China ports. Coking plants saw stocks decrease amid mills' stock replenishment and traders' speculative demand.
&nbsp;
Increased futures prices encouraged traders to pay premiums for coke, resulting in significant stock increases at ports. This affected coke deliveries to steel mills, which were in the process of restarting blast furnace operations. Rising consumption of coke led to stock depletion at the mills.
&nbsp;
By the end of April, coke inventories held by merchant coking plants decreased 61.4% month on month. Coke stocks at the surveyed mills fell 10.9% month on month, while stocks at ports increased 10.0%.
&nbsp;
<img src="https://cos.sxcoal.com/news/2024_image_80306204161714454913516_1785179412051484672.png" width="504" height="317" />
&nbsp;
May market forecast
Each month, Fenwei analysts produce a report on Chinese coking coal and met. coke market, giving analysis from macroeconomic, downstream sectors, supply/demand, import, stocks, and prices, and making a forecast for the next month.
&nbsp;
The report titled China Coking Coal Market Monthly Report is released near the end of month. For more details about this report, please visit our <a href="https://www.sxcoal.com/en/report/detail/FW2128R" target="_blank" rel="noopener">Product Page</a>. You can also scan the QR code with Whatsapp or Wechat below to contact us directly.
&nbsp;
<img src="https://cos.sxcoal.com/news/2024_image_63759986871714454913519_1785179412043235328.png" alt="https://fenwei-web-pro-1306768303.cos.ap-beijing.myqcloud.com/news/2023_image_1719924389080420352.png" width="423" height="206" border="0" />
&nbsp;

China's metallurgical coke prices rose by 300-330 yuan/t in the latter half of April following eight successive drops. This increase was driven by steelmakers increasing procurement due to better marg

Monthly: Chinese Apr coke market buoyed by brisk demand

Turkey imported 3.33 million tonnes of coal in March 2024, falling 16.44% from 3.98 million tonnes in the preceding year, according to the country's trading statistics.
&nbsp;
<img src="https://cos.sxcoal.com/news/2024_image_15146771631714465575283_1785224133671084032.png" width="505" height="302" />
&nbsp;
The imports were also 10.97% lower than 3.74 million tonnes in February, notching a new low since July 2023, data showed.
&nbsp;
The value of coal imports declined 29.95% year on year to $396 million, down 10.92% from February. That put the average import price at $118.9/t in March, down 16.17% from a year ago yet edging up 0.06% month on month.
&nbsp;
Turkey's imports of bituminous coal stood at 2.93 million tonnes in the same month, down 12.04% year on year and 13.96% month on month. The imports amounted to $287 million, falling 23.15% year on year and 21.06% from the preceding month.
&nbsp;
Turkey's coking coal imports were 318,500 tonnes in March, slumping 47.61% on the year yet rising 18.45% on the month. Anthracite coal imports in the same month surged 69.11% from the year-ago level to 85,300 tonnes, climbing 20.84% month on month.
&nbsp;
Coke imports amounted to 73,900 tonnes in the month, soaring 190% year on year yet declining 45.34% month on month. The value of coke imports hiked 134.08% on the year to $22.39 million, which was 54.42% lower than the previous month.
&nbsp;
Turkey imported 10.60 million tonnes of coal over the first three months, up 10.45% year on year, with the value down 13.79% on the year to $1.37 billion.
&nbsp;

Turkey imported 3.33 million tonnes of coal in March 2024, falling 16.44% from 3.98 million tonnes in the preceding year, according to the country's trading statistics.The imports were also 10.97% low

Turkey Mar coal imports hit 9-mth low

Turkey imported 3.33 Mt of coal in Mar 2024, down 16.44% YoY and 10.97% MoM, according to the country's trading statistics.

Thermal coal
Production area The overall thermal coal supply slightly tightened in major producing regions, as some mines suspended production after fulfilling monthly production targets. Longwall changes also contributed to production reduction. Growing portside prices prompted traders' buying appetites. A few cost-effective mines observed a rise in truck loadings, leading to a 10-20 yuan/t price uptick. However, a few coal grades ticked down 10 yuan/t in Yulin, Shaanxi province, pressed by weakened blending coal demand. Near-term prices may remain stable, considering deadlocked supply-demand fundamentals.
&nbsp;
Northern port Traders mostly kept firm on offering prices. A few buyers hence paid higher prices to cover their short positions. Some traders held back on sales in anticipation of an unclear post-holiday market. Future portside prices would depend on coal stocks at northern ports following the maintenance of Daqin railway and demand recovery.
&nbsp;
Import market The seaborne import market stayed firm. The rebound in domestic coal prices and expectations of pre-summer restocking demand encouraged overseas sentiment, leading to higher offer prices for far-month cargoes. Bidding prices for tenders issued by domestic power utilities also ticked up accordingly. Imported low-CV bids were roughly in line with domestic prices, but prices for medium- and high-CV coal were much higher than domestic offers. One tender for Indonesian 3,800 Kcal/kg NAR coal issued by one utility was awarded at 543-550 yuan/t DDP with VAT, while that for Australian 4,500 Kcal/kg NAR at 660-670 yuan/t.
&nbsp;
Coking coal
Sidelined sentiment widened in the coking coal market following continuous price hikes. Speculative traders accelerated sales to lock in profits, cushioning the price growth. Nevertheless, coking plants, anticipating ongoing improved profits, boosted restocking activity in the wake of the fourth coke price rise. Coking coal miners reported low inventories and firm offer prices. The upward trend may persist in the short term.
&nbsp;
The Ganqimaodu border crossing plans to close for three days over May 1-3 during the May Day holiday. Trading activity calmed down ahead of the holiday, weakening Mongolian coal prices. Prevailing offers for Mongolian 5# raw coal were at 1,350-1,360 yuan/t, while that for Mongolian 3# washed coal came in at 1,520-1,530 yuan/t, ex-stock with VAT.
&nbsp;
Met coke
Major steelmakers in Hebei accepted the fourth coke price hike, taking the cumulative corrections to 400-440 yuan/t. Steel mills speeded up production resumption of blast furnaces. These mills, however, confirmed low coke stocks due to disrupted arrivals and limited spot availability. They hence inked fresh orders urgently before the forthcoming holiday, fueling the full implementation of the fourth coke price increase. Coking plants lifted output spurred by significantly rebounded profits, ensuring sufficient coke supply. This move eased the post-holiday supply-demand tightness.
&nbsp;

Thermal coalProduction area The overall thermal coal supply slightly tightened in major producing regions, as some mines suspended production after fulfilling monthly production targets. Longwall chan

China Coal Daily Track (Apr 30)

On Apr 30, 2024, China's coking coal futures main contract JM2409 on the Dalian Commodities Exchange opened at 1,810 yuan/t and closed at 1,806 yuan/t,   down 3.0 yuan/t  DoD. The intraday high was 1,830 yuan/t and the intraday low at 1,770 yuan/t.

China's coking coal prices rebounded significantly in April in line with sustained coke price rallies. End buyers made active purchases, easing offtake difficulties at mines.
&nbsp;
March Supply-demand
China's effective supply of coking coal was estimated at 47.45 million tonnes in March, up 14.56% from the month prior. Total effective supply came in at 137.19 million tonnes over January-March, down 6.30% year on year.
&nbsp;
Coking coal demand increased 3.41% month on month to 46.92 million tonnes in March, while the demand declined 2.47% on the year to 141.00 million tonnes over the first three months this year.
&nbsp;
<img src="https://cos.sxcoal.com/news/2024_image_1785174550605684736.png" />
&nbsp;
Overall, the loose supply-demand fundamentals indicated a supply surplus of 534,300 tonnes in March.
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Overview of April market
Production areas Bullish sentiment prevailed in the coking coal and coke markets in mid-April, fueled by skyrocketed steel products prices and a sustained contango in the futures market. Downstream buyers showed increased buying appetite of coking coal, helping deplete coking coal stocks at mines. By late April, coking coal stocks at Sxcoal-surveyed mines declined 12.9% from a month ago to 3.19 million tonnes.
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Coking coal prices saw a substantial rebound since mid-April supported by active trading activity, after ticking down with sluggish demand at the beginning of the month.
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As of April 28, Fenwei assessed Shanxi low-sulfur primary coking coal at 2,000 yuan/t free-on-rail basis with VAT, up 200 yuan/t from a month ago; Linfen low-sulfur 1/3 coking coal was assessed at 1,680 yuan/t, ex-washplant with VAT, rising 130 yuan/t.
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Lingshi high-sulfur fat coal and Jining gas coal were offered at 1,900 yuan/t and 1,350 yuan/t, climbing 150 yuan/t and 50 yuan/t, respectively, both free-on-rail with VAT.
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Transfer ports Coking coal stocks at China's northern ports slightly accumulated in April, partly due to continuously rising prices. As of end-April, coking coal inventory came in at 2.18 million tonnes at Jingtang port, a month-on-month increase of 1.1%.
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The price of primary coking coal was 2,150 yuan/t at Jingtang port as of April 28, on ex-stock basis with VAT, advancing 200 yuan/t from the month before.
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On the same day, Fenwei assessed the price of imported premium primary coking coal at $257/t CFR China, unchanged from a month ago. At Jingtang port, the imported Canadian coking coal prices rose 150 yuan/t to 2,200 yuan/t, ex-stock with VAT.
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Consumption areas Coke and steel makers reported recovered profits following the price hikes in both coke and steel products, boosting their restocking activity. As of end-April, steel mills held 4.84 million tonnes of coking coal stocks, down 4.1% month on month, while coking plants had 2.24 million tonnes of coking coal, up 3.3% from the month-ago level.
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Chengde Iron and Steel Group's purchase price for primary coking coal was 2,040 yuan/t as of April 28, DDP basis with VAT, up 30 yuan/t from the previous month.
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Downstream sectors
Steel market The overall steel products stocks tumbled in April. With sufficient funds, the construction and manufacturing industries accelerated operations, resulting in surged demand for steel products. On April 29, social stocks of steel products in major cities totaled 14.28 million tonnes, falling 16.5% from the month before.
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Coke market Coke stocks also slumped in April driven by restocking demand from steel mills. Speculative traders also lifted purchases, given the price surges in the domestic futures market. They even paid premiums to lock goods. This move contributed to accumulated stocks at northern ports.
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Steelmakers gradually resumed production of blast furnaces. Some of them reported low coke inventories, affected by disrupted arrivals. By end-April, coke stocks at steel mills and merchant coking plants decreased 100,000 tonnes and 230,000 tonnes, respectively, while that at ports increased 130,000 tonnes.
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Each month, Fenwei analysts produce a report on Chinese coking coal market, giving analysis from macro-economy, downstream sectors, supply/demand, import, stocks and prices and making forecast for the next month.
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The report titled China Coking Coal Market Monthly Report is released before the end of each month.
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For more details, please click <a href="https://www.sxcoal.com/en/report/detail/FW2128R">HERE</a> or scan the WhatsApp QR code below to reach us directly.
<img src="https://cos.sxcoal.com/news/2024_image_38439925961714453688084_1785174278949003264.png" alt="https://cos.sxcoal.com/news/2024_image_1775377520559587328.png" width="197" height="198" border="0" />
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