Cut in coal supply to continue this year

Advanced Search

The story appears on

Page A9

February 22, 2017

GET this page in PDF

Free for subscribers

View shopping cart

Cut in coal supply to continue this year

By Song Yingge | February 22, 2017, Wednesday |

Print Edition

CHINA will continue to cut coal supply in 2017 as “demand keeps falling” and it hopes that the reduction will help stabilize prices, the China National Coal Association said yesterday.

China will trim 50 million tons of coal capacity in over 500 mines this year because “the supply-demand relation hasn’t been balanced to ensure the long-term profit rebound” for the industry.

The association predicted coal use will continue a three-year slump, which would force companies to further cut production after coal consumption last year dropped 1.3 percent from that in 2015.

The further cut in coal supply will be a tool to prevent a slump in coal prices, the association said, adding that it has asked key players to “actively cut production” to keep stable prices.

Investment in coal fixed assets plunged 24.2 percent last year to 303.8 billion yuan (US$44.1 billion).

Energy

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

Cut in coal supply to continue this year

Email this to your friend