China's portside thermal coal prices under great pressure amid high stocks

As of Dec 22, N China Bohai ports (excl. Huanghua port) had 28.1 Mt of coal stocks, rising 0.93 Mt WoW. Coal stocks were still on the rise, and the storage space was tighter. Some ports even posed a cap on coal inflows and coal railings also retreated slightly. However, coal outflow was relatively low, leading to continued inventory build-ups. The huge stock pressure at ports exerted notable downward pressure over coal prices.

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