WHC
Click for more information
1.59% $6.72 whitehaven coal limited

China’s National Development and Reform Commission (NDRC) has...

  1. Provedore
    61 Posts.
    lightbulb Created with Sketch. 16
    clock Created with Sketch.
    01/07/21
    13:16
    Post #: 54207691

    China’s National Development and Reform Commission (NDRC) has announced that it plans to build up around 100m tons of deployable coal reserves this year.

    “It is extremely rare for the Chinese government to make statements on building up coal reserves, and this adds to our bullishness for the dry bulk shipping market and seaborne coal market,” commented Jefferey Landsberg, managing director of Commodore Research & Consultancy.

    Concerns for both summer and winter coal shortages have continued to intensify


    Precise details on the source of the reserves have not been released, but the NDRC has also stated it expects both domestic coal output and imports will increase in the near term. Research from Commodore shows China’s power plant stockpiles are down year-on-year by about 25%, while coal-derived electricity production this quarter has been rising year-on-year by approximately 10%. At the same time, domestic coal production has stayed under government-mandated pressure as accidents and deaths at coal mines have continued to occur in recent months.

    Coal port stockpiles in China have also now fallen to the lowest level since February.

    “Concerns for both summer and winter coal shortages have continued to intensify in China, and we believe substantial strengthening in coal import demand will occur very soon,” Landsberg predicted.



    https://splash247.com/china-to-build-100m-ton-coal-stockpile-this-year/
    WHC Price at posting: $1.96 Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 3  Upvote
    lightbulb Created with Sketch.  Great analysis
    Stroke 3 Created with Sketch. Comments Created with Sketch. Reply

  2. Top Stories

 

Featured News

NEWS Results wrap: Wesfarmers, Southern Cross Media, Qantas
right-arrow Created with Sketch.
NEWS Inflation cools in the 12 months to July, on-target reading of 3.5%
right-arrow Created with Sketch.
HYT Twiggy Forrest to acquire 40% of native hydrogen explorer – not long after putting Fortescue Future Industries to sleep
right-arrow Created with Sketch.
NEWS Reporting Wrap 28 Aug: Tabcorp slammed, Woolworths' soft gains; Nine; Lynas & APA Group
right-arrow Created with Sketch.
FMG FMG reports third highest earnings in history on strong iron ore sales
right-arrow Created with Sketch.
NEWS What on earth is antimony – and why are ASX traders going crazy for it? + 6 stocks to watch
right-arrow Created with Sketch.
watchlist Created with Sketch. Add WHC (ASX) to my watchlist
(20min delay)
Last
$6.72 		Change
0.105(1.59%) 		Mkt cap ! $5.621B
Open High Low Value Volume
$6.70 $6.78 $6.66 $31.89M 4.820M

Buyers (Bids)

No. Vol. Price($)
23 17665 $6.71
 

Sellers (Offers)

Price($) Vol. No.
$6.72 29145 33
View Market Depth
Last trade - 14.18pm 30/08/2024 (20 minute delay) ?
WHC (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.