Ganqimaodu coal stocks surge to record high

Clearance of Mongolian coking coal at Ganqimaodu rebounded quickly after the Spring Festival holiday. But stockpiles at supervision area accumulated fast amid downbeat domestic market and subdued purchases. As of Feb 13, coke stocks climbed to a record high of 4.53 Mt, up 0.65 Mt from pre-holiday level. Some storage capacities are about to be full, resulting in truck stagnation and dragging down customs clearance in recent days. Prices of Mongolian 5# raw coal fell 20 yuan/t WoW to 900 yuan/t, ex-stock Ganqimaodu with VAT.

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