I have mentioned a couple of times that coal inventory in China has reached historical high both in ports and at power plants as demand for electricity (and hence coal) slows amid slowing economic growth, while production of hydroelectric power picked up recently.
The chart below is from Goldman Sachs, which shows the coal inventory days at major power plants. As you can see, coal inventory level at major power plants have already surpassed level that was reached during the 2008/09 crisis.
