China's Yudean buys 12 cargoes of seaborne thermal coal

In another sign that the largest power supplier in South China's Guangdong province expects summer to come early to its supply region this year, state-owned Guangdong Energy Group (Yudean) has secured 12 cargoes of seaborne thermal coal through a tender concluded on March 12, Mysteel Global has learned.

The total volume of these 12 cargoes is estimated at around 720,000 tonnes and although the tonnage is lower than the company's previous procurement of 1.08 million tonnes across 18 cargoes concluded on March 5, the purchase nonetheless reflects its proactive procurement strategy ahead of a potential demand surge