DAILY: China's thermal coal port traders under pressure to destock

Thermal coal traders at major ports in northern China are under pressure to accelerate coal sales as portside inventories of the fossil fuel continue to build up, dampening sentiment and leading to lower trading values, Mysteel Global found.

Coal stockpiles at the northern ports have kept rising since late last month. As of November 20, inventories at the eight ports monitored by Mysteel in North China reached a record high of 27.14 million tonnes. Notably, thermal coal inventories at Qinhuangdao, a key port on the north shore of