Coal stocks in China’s QHD port fell to two years low
During China’s Golden Week, the coal stocks in China’s Qin Huang Dao (QHD) port plunged to a two year low of 3.97 million tonnes, a 46% slash from 7.3 million
tonnes in early September.
Two points are worth mentioning regards to this phenomenon. Firstly, China’s DaQin railway went into the 2nd round of maintenance for around 15 days (20 Sep to 5 Oct), which results in a daily reduction of 0.3 million tonnes in coal shipments to northern ports. Secondly, five coal mines, which account for around 5 million tonnes of monthly output, have been forced to shut down for overhauls after a fatal accident.
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