by Seems a global thing: No recovery here: Another price reversal: GC Newcastle coal futures tumbled by over 30% to 0 per metric ton, the lowest in three months, and are more than 40% below a record high of 9.5 hit on October 5th, as China stepped up policies to boost output ahead of the winter season. China’s average daily output increased by over 1.2 million tonnes to a record at above 11.6 million tonnes on October 18th. As a result, Chinese power plants now have stocks to produce power for 16 days from less than two days’ inventories at the start of October.
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Seems a global thing:
No recovery here:
Another price reversal:
GC Newcastle coal futures tumbled by over 30% to $150 per metric ton, the lowest in three months, and are more than 40% below a record high of $269.5 hit on October 5th, as China stepped up policies to boost output ahead of the winter season. China’s average daily output increased by over 1.2 million tonnes to a record at above 11.6 million tonnes on October 18th. As a result, Chinese power plants now have stocks to produce power for 16 days from less than two days’ inventories at the start of October.
