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QHD coal stocks drop on improving utilities demand

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Publish time: 22nd December, 2014      Source: www.cnchemicals.com
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Coal stockpiled at China’s major transfer port of Qinhuangdao has dropped recently, thanks to improved utilities demand and reduced inbound rail supply, data showed.Coal stocks at Qinhuangdao port stood at 7.15 million tonnes on December 22, down 0.97% on day and 6.34% lower than the recent high of 7.634 million tonnes on December 14, showed data from Qinhuangdao Port Group.The outbound shipment from Qinhuangdao increased 8.0% from the previous week to an average of 0.58 million tonnes each day over the week ending December 22.Inbound rail supplies declined 6.96% from the week before to 0.63 million tonnes on average each day during the same period.Capacity utilization at downstream utilities has improved slightly in recent days, as electricity demand for heating purposes increased amid falling temperatures and reduced hydropower output in southern China.Combined coal stocks at China’s six key coastal power companies fell 2.0% on week to 13.40 million tonnes on average each day over December 15-21; while average daily coal consumption rose 3.0% from the week before to 0.68 million tonnes, which is enough to last 19 days of consumption, down 1 day from the previous week.The six key coastal power companies include three regional power companies – Zhejiang Power, Shanghai Power and Guangdong Yudean Power – and three national power companies – Guodian, Datang and Huaneng.Meanwhile, coal stocks at Caofeidian port stood at 7.07 million tonnes on December 22, down 2.75% from the previous week; while SDIC Jingtang port had 2.64 million tonnes of stocks, up 2.33% week on week.