02-01-2023 Special China Update, Commodore Research & Consultancy
The most recently released data as of January 1st shows that the daily coal burn rate at China’s six major coastal power plants has come in at only 803,000 tons. This is 3% lower than was seen one week prior, is down year-on-year by 6%, and marks the lowest burn rate seen since early December.
China’s thermal coal demand remains weaker than normal for this time of year due in part to the ongoing surge in new coronavirus cases.
Also remaining significant for the spot coal and shipping markets is that the nation remains well supplied with thermal coal.
While passenger travel via road, subways, and air are all increasing (along with some other consumer metrics), industrial markets in China continue to be more significantly affected from the ongoing surge in new coronavirus cases.