MYSTEEL: Mongolian coal stocks at China's Ganqimaodu hit new record

Total Mongolian coal inventories, mostly coking coal for steelmaking use, piled at the eight Customs Supervision Places of North China's Ganqimaodu border port the largest gateway for Mongolian coal exports to China mounted to a historical high of 4.43 million tonnes as of February 9 after several months of accumulation, Mysteel's monitoring data indicated.

The total stocks swelled by 77.8% from the year-prior level, suggesting a severe mismatch between inbound coal purchases and outbound sales at the port, according to the data. The record-high inventory level was primarily a result of persistent coal accumulation at the land port since August last year, when local