China: Coal inventory falls 16% m-o-m at Qinhuangdao Port

Coal inventory at China’s Qinhuangdao Port went down by 16% m-o-m to 4.52 mnt as on 5 Sept. This fall is attributed to resilient demand from power plants as the country is facing extreme heatwave. Meanwhile, coal inflows to port are impacted by Covid restrictions and heavy rains at mining regions. Portside stock, on a w-o-w basis, remained rangebound.