Coal news and updates

China Coal Energy Aug coal output down 8% on m-o-m

China Coal Energy Co., Ltd., the country’s second largest coal producer, produced 8.83 million tonnes of commercial coal in August, falling 8% on month but up 3.3% on year – the first rebound after the 13th consecutive year-on-year drop, it said in a statement on September 15.

Over January-August, China Coal produced 64.15 million tonnes of coal, down 18.1% year on year, said the company.

Total coal sales during the same period reached 90.66 million tonnes, down 10.6% from a year ago, with the August sales at 12.86 million tonnes, dropping 8.7% on year and down 6% from July.

The company sold 9.27 million tonnes of self-produced coal in August, accounting for 72.1% of the total, edging up 0.2% on year and up 8.9% on month. Total self-produced coal sales between January and August fell 11.6% on year to 64.2 million tonnes.

China Coal has announced steady pricing for 5,500 Kcal/kg and 5,000 Kcal/kg NAR coal in September, which is offered at 415 yuan/t and 365 yuan/t, respectively.

However, whether the market would get stabilized was still hard to predict, mainly due to shrinking demand amid falling domestic economy.

source: http://en.sxcoal.com