One of the prevailing China narratives in commodity markets is that the trade dispute with the United States is weakening demand in the world’s biggest importer of natural resources.
Coal stockpiles at China's six largest coastal coal-fired power plants reached 18.32 million tonnes on Wednesday, equivalent to nearly 31 days of daily consumption.
It currently has two thermal coal units — NSW Energy Coal in Australia and Cerrejón in Colombia —, which are expected to generate just 4% of the company’s earnings this year.