China: Thermal coal stocks at 55 ports hit new high of over 50 mnt

Thermal coal inventory at 55 ports in China stood at 50.4 mnt, rising for the fifth straight week, hitting a new high this year, as per sources. Following NDRC’s price cap, several traders are heard reducing portside rates. However, bidding activities remain weak as coal inventory at power plants remains high with long-term supply contracts.