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China coking coal futures gain on tight supplies, restocking demand

05 Apr 2021

Chinese coking coal futures extended gains for a fourth session on Tuesday as supply concerns rose after coal mine inspections and falling imports, with restocking demand at coking plants propping up prices further.
Analysts with GF Futures noted that safety inspections at coal mines in Shanxi province are strict, while some production suspension in Inner Mongolia to curb emissions also affected supplies of coking coal.
“Imports are also relatively tight now,” said a Shandong-based trader. “Daily imports of coking coal from Mongolia now is at merely one-third to half of pre-holiday (Spring Festival) level due to the coronavirus.”
Source : https://en.brinkwire.com/news