Analyzing Chinese Coal Stocks: Insights into Thermal and Metallurgical Markets
Chinese coal stocks at the ports have ceased declining. Inventories in the Southern ports, which mostly import thermal coal, have begun to rise at a rapid pace. This suggests that the Chinese thermal coal market is looking very well supplied and that prices could head lower. Inventories in the Northern ports, which mostly import metallurgical coal, are more stable, indicating a more balanced fundamental picture for metallurgical coal.
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