In the first half of 2024, national coal consumption reached 1.93 billion tons, reflecting a 1.8% year-on-year increase. This marks a significant slowdown compared to previous years, with the growth rate dropping by one percentage point from 2012 and nearly 7.6 percentage points from 2011. The decline in growth suggests a broader shift in energy demand, likely influenced by economic conditions and policy adjustments aimed at promoting cleaner energy sources.
Despite the slower growth in coal usage, overall coal stocks in society have continued to rise. As of the end of June, total coal inventories stood at 298 million tons. Coal enterprises held 89.90 million tons, up 7.9% from the start of the year and 16% compared to the same period last year. This indicates that suppliers are maintaining higher stock levels, possibly in anticipation of future demand or due to delayed sales.
On the other hand, major coal-fired power plants saw a reduction in their coal reserves. By the end of June, they had 73.83 million tons in storage, down 8.8% from the beginning of the year and 18.9% from the previous year. This decrease may reflect improved efficiency, reduced power generation demand, or a strategic move to reduce inventory costs. Overall, the data highlights a complex dynamic in China's coal market, where consumption is growing slowly but stockpiles remain high, signaling ongoing adjustments in supply and demand.Stainless Steel Threaded Rod
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