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IPFS News Link • Pandemic

China's "Whatever It Takes" Moment (May Not Be Enough)

• by Tyler Durden

Small- and medium-sized enterprises (SMEs) with tiny profit margins are especially bearing the brunt, but the impact is widespread, with the latest data point merely adding to concerns that, despite all the talk that Chinese are returning to work, the Chinese economy remains dead in the water.

As we detailed previously, here is China's daily coal consumption which have barely pushed off the lows, and are roughly 50% where they were a year ago this time.

With coal demand in the doldrums, it is also to be expected that coal supply is depressed as well, and indeed coal volumes over the past week remain 25% lower than the past 3 years' average, and roughly 33% below the 2019 level.