The most recently released data as of September 11th shows that the daily coal burn rate at China’s six major coastal power plants has come in at 834,000 tons.  This is 3% lower than was seen one week prior and marks the lowest burn rate seen since early July.  The last four weeks have seen a significant change in coal burn.  Before these last four weeks, coal burn had set records during four of the prior five weeks. 

Overall, peak summer burn season is coming to an end.  The most recent 834,000-ton daily burn, though, is up year-on-year by 8%.  We remain more bullish for the Chinese economy compared to much of the rest of the world.