Coal inventories at Ganqimaodu faces coal overstock
It is reported that coal inventories at Ganqimaodu border crossing in Inner Mongolia have been staying at a high level.
As of late June 2012, coal stockpiled at the border crossing stood at 2.15 million tonnes, up 1.6 times year on year, as traders are not selling well as profit margins reduced amid weakening price advantage of the imported coal.
Meanwhile, coal imports through Ganqimaodu still increased notably as most coal traders had signed long-term contracts with Mongolia coal producers, and thus had to buy certain amount of coal in certain period to avoid defaults of the Mongolian side.
In the first six months of 2012, coal imports through the border crossing surged 34.3% year on year to 5.37 million tonnes.
Source - www.sxcoal.com
(www.coalguru.com)
As of late June 2012, coal stockpiled at the border crossing stood at 2.15 million tonnes, up 1.6 times year on year, as traders are not selling well as profit margins reduced amid weakening price advantage of the imported coal.
Meanwhile, coal imports through Ganqimaodu still increased notably as most coal traders had signed long-term contracts with Mongolia coal producers, and thus had to buy certain amount of coal in certain period to avoid defaults of the Mongolian side.
In the first six months of 2012, coal imports through the border crossing surged 34.3% year on year to 5.37 million tonnes.
Source - www.sxcoal.com
(www.coalguru.com)
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