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June 2014 | Steel Raw Materials


Chinese steel mills recalibrate their stocking requirements: Coke and Coking Coal Highlights


A total of 11.21m tonnes of coking coal is reported to be sitting at Chinese main ports.

Tight credit conditions and a precarious growth trajectory are in part pressing Chinese mills to generate cash from their existing stocks built through the first quarter, the effect of which has allowed port coal stocks to swell. A total of 11.21m tonnes of coking coal is reported to be sitting at Chinese main ports, up from 10.42m tonnes a week previous.

In addition, the steel industry is focusing on tightening excess supply, in an attempt to help bolster the domestic steel market. Data released by the China Iron & Steel Association (CISA) showed that member mills (~80% of total Chinese steel capacity) reduced output by 1.29% to 1.8m tonnes per day, relative to the first 10 days...

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