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Sep.16.2019 1USD=7.0657RMB
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Output Growth Rate of China Coal Reached a Three-year High in July 2019

//en.steelhome.cn [SteelHome] 2019-08-20 10:36:40

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The latest data from the National Bureau of Statistics shows that in July, China's raw coal output was 320 million tons, up 12.2% on year, and the growth rate was 1.8 percentage points higher than that of the previous month, a record high in the past three years.

The continuous high temperature weather in the past two months has led to a significant increase in electricity consumption for residents, driving the strong supply and demand in the coal market.

On the 14th, the National Development and Reform Commission Price Monitoring Center announced that China's thermal coal price index in July was 488.13 yuan/t. The overall coal price rises slightly, reflecting the short supply of coal in the market.

In order to ensure sufficient coal supply during the “peak summer” period, some large coal enterprises have increased the release of high-quality production capacity. In July, the output of commercial coal in China Coal Energy increased by 44.9% on year, and sales volume increased by 50.9% on year.

Coal imports in China have also increased. In July, China imported 32.89 million tons of coal, which is the highest in half a year, an increase of 13.4% on year.

In fact, the demand for coal this summer has grown not only in power plants, but also in large steel mills. Since the beginning of this year, the daily output of crude steel in China has been hitting record highs.

During the “peak summer” period in China, there were indeed situations where power plants were looking for coal everywhere in the past, but this year the overall market is relatively stable and the coal supply is generally adequate.

According to the statistics of China National Railway Corporation, China railway cargo delivery volume in July was 365 million tons, an increase of 8.4% on year.

(To contact the reporter on this story: crystal.lin@steelhome.cn or 86-555-2238927)
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