Coal news and updates

China's coal production rose 10.6 percent to 308 million tons in June from a year ago, data showed on Monday, as miners ramped up output to meet a pick-up in demand during the hot summer months, data from the National Statistics Bureau showed.

 

Authorities have called for coal miners to boost output to ensure power supplies as people crank up air conditioners with a prolonged heatwave hitting across the country.

 

Heavy rainfall has also slashed hydropower capacity in the south, helping boost demand for coal-fired electricity.

 

Thermal coal prices have surged this year, hitting a fresh record of 614.6 yuan ($90.81) a ton in early trading on Monday.

 

The country has fulfilled 65 percent of its target for capacity cutbacks on outdated coal capacity.

 

The National Statistics Bureau also showed coke output fell 1.4 percent in June from a year ago to 38.16 million tons.

 

The most-traded coke futures on the Dalian Commodity Exchange has gained 32 percent this year.

 

Source: Reuters