Spot trading picks up 1500 coal traders in Taiyuan

Since the launch of spot coal trading at the China (Taiyuan) Coal Trading Center back in February this year, there’s been significant progress in dealer registration, thanks to the strong collaboration between key coal groups within the province and external coal buyers. By November 28, the total number of registered dealers had surged to 1,512. While the number of registered dealers was breaking records, the trading center's coal spot trading also saw remarkable achievements. On October 31, the cumulative volume of listed coal transactions reached 10.04 million tons, marking a historic milestone by surpassing the 10-million-ton threshold. Since November, as the coal market began to recover, the number of listed transactions kept growing steadily. Between November 1 and November 9 alone, the trading volume hit 2.16 million tons, surpassing the combined monthly volumes for both August and September. By November 9, the total volume of listed transactions since the market opened stood at 12.21 million tons, with a transaction value reaching 8.8 billion yuan. Starting from the second quarter this year, the coal market had been experiencing a downturn, with some coal types and regional markets struggling with issues like slow sales, difficulty in unloading, and delayed payments. In response, the trading center initiated various promotional activities aimed at boosting spot coal trading. They also maintained close communication with major coal producers and operators in the province to keep the number of registered dealers growing. Additionally, the trading center has been guiding enterprises to leverage the trading platform to expand their sales channels, enhance transaction efficiency, and continuously refine its third-party service platform to offer traders comprehensive services including transactions, settlements, and information support. It’s clear that the efforts of the trading center are paying off, providing much-needed stability to the coal industry during these challenging times. With the market gradually improving, the outlook for future transactions looks promising.