China Railway (CR) Shenyang Group ramped up coal transport trains in service in response to surging winter restocking demand from power plants amid an early arrival of cold weather.
The group saw daily thermal coal shipment amounted to 206,000 tonnes since October 1, with 3,094 trains in operation each day.
The volume was a quick jump from shipments in the first three quarters this year, boosted mainly by plummeting temperatures after summer heat waves just faded for a while in northeastern China.
The Northeast China is the first region that felt the cold waves and the resultant zest for thermal coal for winter heating consumption this year, while other areas in North China haven't started massive coal replenishment yet.
But a demand turnaround may emerge in the near term, especially when data from sxcoal.com showed a quick decline in China's six major coastal power producers' daily coal burns to 599,000 tonnes on October 16, which was 4.9% lower than a day ago although much higher than 503,000 tonnes the year prior.
Yet still, expected loosened import curbs and ample long-term contract supplies will squeeze market shares of spot cargoes.
Source:sxcoal
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