Coal stocks swing

Coal Investing News reports coal stocks have been hit pretty hard with this global recession.

Coal stocks at Qinhuangdao, China’s top coal shipping port, however, climbed 13 per cent on the week, to 5.5 million tonnes, as more coal arrived than was shipped out. According to Reuters calculation based on the data a total of 265 million tonnes of coal arrived at the port via railway in the past five days, while only 206 million tonnes were shipped away. Port data showed average daily arrival of coal cargoes based on month-to-date calculations rose 11 per cent to 6,080 up to January 16, compared with the period up to January 9.

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