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China coal market: China coordinates supplies as prices rise

Reporter: Chen Lubing 丨 CCTV.com

10-26-2016 16:19 BJT

China is aiming to balance the country's tight coal supply with its capacity cutting drive.

The National Development and Reform Commission co-chaired a meeting on Tuesday intended to coordinate coal supplies with 22 producers, a trade group and several government agencies. 

Talks focused on analyzing coal supplies and how to cut overcapacity while ensuring stable supplies. Coal prices in China are increasing quickly as the gap between supply and demand widens. Analysts say demand in the steel industry is recovering, and heating and electricity plants are also storing coal for the winter.

Some participants in Tuesday's meeting said they expect that coal prices will hit 450 yuan per ton, up 28 yuan from a year ago.

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