Thursday, April 19, 2018
News

China's March coal output at lowest level since Oct on falling prices

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

BEIJING | Tuesday, Apr 17 2018 IST
 
China's coal production in March fell to its lowest since October, data showed on Tuesday, as miners in the world's top consumer of the fuel scaled back operations amid falling prices.

The country's coal output came in at 290 million tonnes in March, according to data from the National Statistics Bureau, although that marked a 1.3-percent rise from the same month last year.

The monthly decline came as local coal prices were down about 20 percent from records hit in January, with warmer weather crimping demand from utilities.

The data showed Chinese coal output for the January-March period grew to 804.5 million tonnes, up 3.9 percent from the same time last year.

Adding to worries of potential oversupply, China has approved five large-scale new coal mines since January. Traders and analysts said new supply from these mines could put further downward pressure on prices.

China's largest coal producer China Shenhua Energy lowered its sales and production forecasts recently.

Shenhua aims to produce 290 million tonnes of coal in 2018, down 1.8 percent from a year ago, Shenhua said in its annual earnings report on March 23, while sales are likely to decline 3 percent from 2017 to 430 million tonnes.

REUTERS SV 0838

-- (Reuters) -- C-1-1-DL0103-1330878.Xml

Watch News Videos

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
TRENDING TOPICS
 
 
 
CITY NEWS
MORE CITIES
 
MORE ASIA NEWS
JGBs slip as stocks extend gains, 20-yea...
Suu Kyi leaves for Vietnam...
Punjab Sikh woman pilgrim converts to Is...
5 Nepalese female journalists to climb E...
Strong China Q1 GDP growth supported by ...
Nawaz Sharif, daughter leave for London...
More...
 
INDIA WORLD ASIA
One-way traffic resumes on Kashmir high...
Remembering Octavio Paz...
Oil near 3-1/2 yr highs as Saudi backs h...
China's ZTE removed chief compliance off...
title='U.S. tariffs on metal imports won...
RNM Galleria 1910 unveiled...
More...    
 
 Top Stories
Class work suspended in some Colleg... 
Mecca Masjid blast verdict: Resigna... 
BJP lodge FIR against a lawyer for ... 
Latest technology should be used fo... 
Yamaha FZ 25 bags India Design Mark... 
Reference rate fixed at 65.7837 ag... 
Tata Sons announces appointment of ... 
AAP seeks Special Status for Punjab...