Daily coal burns at China’s six major coastal utilities increased slightly by 37,000 tonnes from a week earlier to 641,000 tonnes on July 4, yet remained at a low level compared with 753,000 tonnes a year earlier, showed data from sxcoal.com. Combined coal stocks at the six utilities stood at 18.38 million tonnes on July 4, declining 798,000 tonnes week on week yet up 3.37 million tonnes from a year ago.
Total coal stocks could cover 29 days of use. That compares to 20 days a year ago.
Utilities’ purchase appetite for spot thermal coal remained weak amid low consumption, high stockpiles and guaranteed steady supplies from long-term contracts.