Related News
Coal output slows after power demand weakens
By Winnie Zhu |
February 7, 2009, Saturday
|
Print Edition
Print Edition
CHINA Coal Energy Co, the nation's second-biggest producer by sales, increased output at a slower pace in January because of falling demand from power producers.
Coal output rose 2.5 percent to 7.8 million metric tons, the Beijing-based company said yesterday. Last year, production rose 11 percent. Sales fell 13 percent to 5.16 million tons last month as exports declined, Bloomberg News said.
China's power generation, 80 percent of which is fueled by coal, fell for a third month in December because of the economic slowdown.
Donovan Huang, a Shanghai-based analyst at Nomura Securities Ltd, said: "Power demand is really weak at the moment. Coal-fired electricity generation may have fallen by more than 10 percent in January."
The Chinese New Year holiday also curbed growth, he said.
The company's domestic sales climbed 13 percent to 4.93 million tons last month and exports fell to 230,000 tons from 1.59 million tons a year earlier, it said.
Coal exports may decline this year given the smaller quota issued, Huang said. China has approved a first 2009 coal export quota of 26 million tons, compared to 31.8 million tons for 2008's first batch of licenses.
Coal output rose 2.5 percent to 7.8 million metric tons, the Beijing-based company said yesterday. Last year, production rose 11 percent. Sales fell 13 percent to 5.16 million tons last month as exports declined, Bloomberg News said.
China's power generation, 80 percent of which is fueled by coal, fell for a third month in December because of the economic slowdown.
Donovan Huang, a Shanghai-based analyst at Nomura Securities Ltd, said: "Power demand is really weak at the moment. Coal-fired electricity generation may have fallen by more than 10 percent in January."
The Chinese New Year holiday also curbed growth, he said.
The company's domestic sales climbed 13 percent to 4.93 million tons last month and exports fell to 230,000 tons from 1.59 million tons a year earlier, it said.
Coal exports may decline this year given the smaller quota issued, Huang said. China has approved a first 2009 coal export quota of 26 million tons, compared to 31.8 million tons for 2008's first batch of licenses.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
