China's National Energy Administration said coal-fired power generation and its
share declined YoY in Q3 2026, reflecting further progress in the energy
low-carbon transition. Recent measures to boost coal production and secure
supply has steadied availability; consumption has been relatively stable,
narrowing the supply-demand gap and leaving thermal coal inventories in a safe,
reasonable range to support winter peak supply. As of Oct. 25, Bohai Rim port
coal stocks were 26.92 mln tonnes, up 2.15 mln tonnes YoY; Qinhuangdao held 5.95
mln tonnes, up 0.42 mln. Centrally dispatched power-plant coal stocks were 210
mln tons on Oct. 25, equivalent to roughly 35 days of supply, broadly in line
with the three-year average.
