Coal news and updates

China Shenhua Aug coal output down 9.2% on y-o-y

China Shenhua Energy Co., Ltd, the listed subsidiary of state-owned coal giant Shenhua Group, produced 24.7 million tonnes of commercial coal in August, up 1.6% from July but 9.2% below the year-ago level -- the 12th consecutive year-on-year decline, the company said late September 15.

During January-August, the company produced a total 188.4 million tonnes of coal, down 9.9% year on year.

Shenhua sold 35.3 million tonnes of coal in August, dropping 33.9% on year but up 2.3% from July. Total sales over January-August dropped 18.4% on year to 247.6 million tonnes, it said.

Shenhua cut prices for three times in August to boost sales, with price of 4,900 Kcal/kg NAR coal down 19 yuan/t to 347 yuan/t FOB Qinhuangdao.

In August, China Shenhua sold 19 million tonnes of coal via northern Chinese ports, down 42.4% on year and down 3.1% on month. Of this, coal shipped from Shenhua’s exclusive-use Huanghua port stood at 9.9 million tonnes or 52.1% of the total, down 44.1% on year and down 15.4% on month.

Over January-August, the company sold 136.5 million tonnes of coal via northern Chinese ports, down 12.9% year on year. Of this, coal shipped from Huanghua port stood at 73 million tonnes or 53.5% of the total, down 16.2% year on year.

It didn’t import any coal during the same period, while total exports reached 0.7 million tonnes, down 36.4% on year. The company didn’t export any coal in August.

Meanwhile, China Shenhua generated 18.69 TWh of electricity in August, up 2.6% on year and up 2.5% on month, while total power output between January and August decreased 5% year on year to 137.35 TWh.

Power sales stood at 17.38 TWh in the past month, up 2.9% on year and up 2.8% on month. Total power sales over January-August shrank 5% year on year to 127.91 TWh.

source: http://en.sxcoal.com