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China Coal Output Hits New High in October

iconNov 22, 2011 13:28
Source:SMM
China’s total coal output hit a new of 330 million mt during October 2011, up 7.3% YoY. Total coal output from January to October was 3.13 billion mt, up 12.2% YoY.

SHANGHAI, Nov. 22 (SMM) -- China’s total coal output hit a new of 330 million mt during October 2011, up 7.3% YoY. Total coal output from January to October was 3.13 billion mt, up 12.2% YoY. Output at key coal mines was 164 million mt in October, up 8.6% compared with 151 million mt in 2010. 

Total sales of coal to electric power and metallurgy industries by key coal mines were 50.76 million mt in October 2011, up 3.4% YoY. Actual coal sales to electric power industry were 43.32 million mt, up 1.8 million mt YoY, while actual sales to metallurgy industry were 7.44 million mt, down 200,000 mt YoY.

In general, coal production at key mines grew by 8.6% YoY, but sales only increased by 3.4% YoY, resulting in high coal inventories at some enterprises and in turn driving coal prices down in November. In addition, coal-fired power enterprises showed little interest in purchasing higher-priced coal given continuous losses, and weak steel markets also directly affected steelmakers’ willingness to purchase coal.

 

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