Global Biggest Coal Producer Hiked Coal Prices for First Time in Five Years

SHANGHAI, May 31 (SMM) – Coal India Ltd., one of the world's largest coal producers, raised coal prices for the first time in five years.

Prices for nine types of high-grade thermal coal will rise 8% from Wednesday, the company said in a statement, in a move aimed at boosting revenues and offsetting higher non-executive pay costs.

The prices gains are for high-quality coal used by industrial users, not for coal used by power plants to generate electricity, meaning the price hike should not have a significant impact on energy bills. India relies on coal for about 70% of its electricity generation.

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