Boots output by curbing coal price
Datetime: 2018-05-22 18:06:07
Boots output
by curbing coal price
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Founded in 2005, GOLDEN FUTURE now is a professional team with experienced
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them. Recently in order to boost the curb output, authority has take actions.
BEIJING, May 18 (Reuters) – China
will take steps to bring down coal prices because the recent rally is not
supported by market fundamentals, state-owned Xinhua News reported on Friday,
citing officials from the National Development and Reform Commission (NDRC).
That is in line with a Reuters\'
report that two major coal-fired power producers banned spot purchases of
thermal coal above certain prices amid a bearish outlook for the market in the
coming months.
To bring coal prices back within
a "reasonable price range", the NDRC will encourage miners to boost
output — adding at least 300,000 tonnes a day from mines in Shanxi, Shaanxi and
Inner Mongolia.
NDRC puts reasonable coal prices at 500-750 yuan a tonne.
The state planner expects coal
output in the three regions to increase by about 250 million tonnes this year.
Combined coal production in these area was 2.3 billion tonnes last year,
accounting for two thirds of the country\'s total coal output.
Plans are also being made to
improve rail capacity for coal transportation from miners in the western part
of the country to coal-fired power plants in eastern regions.
The NDRC also said it will
ontroduce 100 million tonnes of new coal capacity this year to ensure stable
supplies in the market.
(Reporting by Muyu Xu and Vincent Lee; Editing
by David Goodman)
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