Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

China Locks Down Part of Its Northern Hub for Coal Shipping

Coronavirus Apr 28, 2022 12:45AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. China Locks Down Part of Its Northern Hub for Coal Shipping

(Bloomberg) -- The northern port of Qinhuangdao is the latest Chinese commodities hub to get hit by virus-related lockdowns.

The city in Hebei province has locked down its Haigang district, which includes the port, after infections were found in the area, although a spokesperson said the port is operating normally. In the first quarter, Qinhuangdao handled nearly 50 million tons of goods, mostly coal from the interior and metal ore imports. Hebei is China’s biggest steel province and its mills rely on seaborne supplies of iron ore. 

The city is chiefly known as a transition point for sending coal from the mining regions of the north to the coastal industrial centers in the south. The price set at the port is an important benchmark for China’s coal market, which is the largest in the world. 

While port administrators are working remotely, workers are on site and coal is being transported normally, the spokesperson said. Still, coal flows have drawn particular scrutiny in recent weeks as markets in the south stress over dwindling imports and a resurgent virus that has clogged up transportation of the nation’s mainstay fuel.

Much of the Chinese economy was crippled by an unprecedented power crunch in the fall. Earlier this month, an executive at the China Coal Transportation and Distribution Association said eight coastal provinces, including economic powerhouse Guangdong, are threatened once again by a growing shortfall of the fuel for industry and cooling needs. Miners in the top producing province of Shanxi have since been told to guarantee supplies to the at-risk areas, according to a report.

Earlier this week, Baotou, the biggest city in Inner Mongolia, China’s No. 2 coal region, was locked down. Baotou is also a crucial hub for the production of rare earths.

Today’s Events

(All times Beijing unless shown otherwise.)

  • Webinar on Zero-Carbon Transition for China’s Chemical Industry, 14:00
  • China Coal 1Q online earnings briefing, 15:00
  • Cnooc 1Q earnings call, 17:35
  • China Offshore Wind Power Conference, Guangzhou, day 3
  • EARNINGS: Gotion High-Tech, China Moly, China Oilfield Services, Jiangxi Copper, Anhui Conch, Baosteel, Cnooc, Datang Power, Sany Heavy, Komatsu (OTC:KMTUY), Caterpillar (NYSE:CAT), Syngenta
  • USDA weekly crop export sales, 08:30 EST
  • Glencore (OTC:GLNCY) quarterly production report

Today’s Chart

Global demand for gold jewelry this year will probably be undermined by China’s stringent lockdowns to combat its Covid-19 outbreaks, according to the World Gold Council. The seasonal ebb in Chinese consumption that normally occurs in the second quarter may be exacerbated as the virus measures deter buyers in the world’s biggest consumer.

On The Wire

China’s biggest oil refiner Sinopec (NYSE:SHI) is confident demand will recover by the end of the second quarter and still reach full-year growth despite taking a hit from pandemic measures.

  • China Shenhua Gains After Reporting 67% Earnings Growth in 1Q
  • PetroChina’s Outlook on Oil Rally, Gas Price Hikes Key: Preview
  • China’s Xiangguang Copper to Restart After Rescue Agreement
  • Electric Car Demand Behind 8,000% Jump in Net Cash Flow for BYD
  • BYD’s 1Q Earnings “Very Strong”, Sales to Outform Sector: Citi
  • China Oil Inventories Keep Swelling as Lockdowns Hurt Demand
  • Fortescue’s 3Q Shipments Rise 10% as Iron Ore Project Ramps Up
  • Mortgage Rates Lowered in Over 100 China Cities: Securities News
  • Trina Solar 1Q Net Income 543.2M Yuan Vs. 230.2M Yuan Y/y
  • Trina Solar FY Net Income 1.8B Yuan Vs. 1.23B Yuan Y/y
  • Peru Ousts Protesters From Stalled Las Bambas Copper Mine
  • New Hope (OTC:NHPEF) Liuhe FY Net Loss 9.59B Yuan Vs. Profit 4.94B Yuan Y/y
  • China’s Refined-Oil Product Inventory Leap Spawns Export Rethink

The Week Ahead

Friday, April 29

  • China Caixin factory PMI for April, 09:45
  • Shenhua Energy 1Q online earnings briefing, 11:00
  • China weekly iron ore port stockpiles
  • Shanghai exchange weekly commodities inventory, ~15:30
  • EARNINGS: Tianqi Lithium, Yangtze Power, PetroChina, Maanshan Steel, JA Solar

Saturday, April 30

  • China official PMIs for April, 09:30

©2022 Bloomberg L.P.

China Locks Down Part of Its Northern Hub for Coal Shipping

Related Articles

Russia scraps remaining COVID restrictions
Russia scraps remaining COVID restrictions By Reuters - Jul 01, 2022

(Reuters) - Russia said on Friday it was ending all restrictions to combat the spread of COVID-19, including the requirement to wear masks, citing a steady decline in deaths from...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email