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China’s Weak Industrial Recovery Is Weighing on Coal Consumption

A coal depot near a power station in Jiaxing, Zhejiang province on March 11, 2022. Photo: Bloomberg

(Bloomberg) — China’s weak property market and sluggish industrial activity are weighing on coal prices even as a spate of government safety checks curbs output.

Key industrial users of the fuel including steel mills and cement plants are demanding more discounts on coal purchases to help cover losses, and many have curtailed operations, Chao Yuke, an analyst with the China Coal Transport and Distribution Association, said at a briefing on Wednesday.