Coal news and updates

China coal weekly: Benchmark price rises above 600 Yuan/ton

The benchmark 5,500kcal coal price in Qinhuangdao rose by 2% week on week to 620 yuan/ton in the week through December 8, 2013. JPMorgan expected near-term coal prices to be well supported by seasonal demand and annual coal price talks that begin in mid December. Stockpiles in Qinhuangdao have fallen to an alarming level of 4.8 million tons.
The Bohai Rim 5,500kcal thermal coal price rose by 18 yuan to 594 yuan/ton in the week through December 8, 2013 after rising for the eighth week in a row, according to figures from Cqcoal.com. Since October 16 the price has risen 12.1%, or 64 yuan/ton.
China's coke output rose 7.2% year on year to 39.4 million tons in November 2013, the National Bureau of Statistics said. Between January and November, coke output was up 8.1% year on year to 435.95 million tons.
Based on Chinese policies and approved projects, UBS forecast investments in China's new-type coal chemical projects to add up to 800 billion yuan during the years through 2018, where 440 billion yuan would go to coal-to-natural gas projects.

Source: The China Perspective