Daily coal burns at China’s six key coastal utilities creep up

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    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.

    Source: sxcoal.com