MYSTEEL: China's met coal to see more downside risks after CNY holiday

The Chinese metallurgical coal market is anticipated to face mounting downside pressures after the Chinese New Year (CNY) holiday that officially spans February 15-23, as a fundamental imbalance may aggravate with the majority of miners planning to resume production within February, Mysteel's latest survey results find.

The survey covers 395 operating coking coal mines across China, with a total capacity of 757 million tonnes/year. Of these, 388 mines, with a combined capacity of 744 million t/y, have scheduled holiday shutdowns for varying durations, estimated to reduce raw coal production by 18.68 million tonnes, according to