Wednesday, September 5, 2012

Coal inventories stabilizing world-wide

Via China Daily....

China's benchmark power-station coal price rose for the first time in four months as stockpiles declined at the nation's biggest port for shipping the fuel.
Coal with an energy value of 5,500 kilocalories a kilogram at Qinhuangdao climbed to a range of 625 yuan ($98.30) to 635 yuan a metric ton as of Sunday, according to the China Coal Transport and Distribution Association on Monday. The midpoint was 0.4 percent above a week earlier, when prices touched the lowest since October 2009. 

I would not expect a fast and furious turn in the coal markets, but the signs of the bottom are there.... at least in the thermal markets.

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