Coal Stocks at China's Leading Power Generators down 3.5% on Week

Combined coal stocks held by China's six leading power generators in southern and eastern China, namely Zhejiang Power, Shanghai Power, Guangdong Power (Yudean), Guodian, Datang, and Huaneng, averaged 9.57 million mt over the week ended March 23, down 3.5% on the week, according to a weekly report by port operator Qinhuangdao Port Thursday.

Taking into consideration the current coal consumption rate, stocks would be able to last an average of 14.6 days at the six generators, down by one day week on week, the report said.

Average coal consumption at the six stood at 658,000 mt/day in the same week, up 3.7% week on week, figures from the port operator showed.

More cold and rainy weather in southern China has sustained relatively high coal and electricity consumption at power plants, resulting in a drop in coal stocks, the report said, adding that consumption rates could remain high due to the lingering cold.