Iron Ore & Coal "Met coal upside from China safety stoppages?" Allsop

Research evidence excerpt

Iron Ore & Coal "Met coal upside from China safety stoppages?" Allsop

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Iron Ore & Coal Equities

GlobalMet coal upside from China safety stoppages?

Basic Materials

Myles Allsop

Figure 1: Weekly iron ore shipments from AU+BR+SA, Mt

Analyst

myles.allsop@ubs.com

ro shi

+44-20-7568 1693

Lachlan Shaw

f ore Analyst

lachlan.shaw@ubs.com

+61-3-9242 6387

ts iron

Sharon Ding

en kly sharon.ding@ubs.com

+852-2971 6284

Daniel Major

pm Wee

AU+B daniel.major@ubs.com

m R+SA, Mt +44-20-7568 3472

Caio Greiner

Source: UBS Evidence Lab (> Access Dataset). Includes content supplied by Markit Group Limited; Copyright © caio.greiner@ubs.com

Markit Group Limited, 2026. All rights reserved. +55-11-2767 6294

Amy Yi Li

122Mt met coal capacity suspended following mine incident in Shanxi, China Analyst

Following a fatal gas explosion on 22-May at the Liushenyu coal mine in Qinyuan, amy-yi.li@ubs.com

Shanxi, all 25 mines (26Mt of capacity, or 3% of China's met coal output) in the Qinyuan +44-20-7568 2064

county have been closed and it is unclear if/when they will restart. Additionally, a Steve Friedman

temporary suspension of 109 mines (122Mt of capacity, 11% of output) across the Analyst

Shanxi province has been imposed to complete self-assessments on mine safety. The steve.friedman@ubs.com

local authorities have mandated ~3mths of safety inspections, but thus far blanket +27-11-322 7252

shutdowns have not been imposed; whilst historically such accidents have triggered George Eadie

nationwide safety inspections and stricter regulations, we think a more modest Analyst

approach could be likely this time given the need to balance energy security. The region george.eadie@ubs.com