Chinese Mandarin - Coal price likely to dip in second half

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Coal price likely to dip in second half

www.chinanews.cn 2005-07-25 09:32:05

(Source: China Daily)

Coal ships sail through water gates of the Gezhouba power plant on the
Yangtze River in Yichang, July 14, 2005.

July 25 - Coal prices, after years of going up, are expected to drop
slightly in the second half of the year, said industry experts over the
weekend.
Petroleum prices, however, rose over the weekend in line with the rise of
oil prices on the world market.
Reasons for the possible fall in coal prices include increased production
and imports. Plus, more demand could be a factor since the nation's
tightened controls of its highly energy-dependent industrial sectors such
as steel and petrochemicals have taken effect, said Guo Yuntao, director
of the China Coal Industry Development Research Centre (CCIDR), speaking
at the China Coal Market Conference 2005 on Saturday.
China's demand for coal is projected to rise by some 150 million tons
this year, compared with an estimated annual increase of 200 million tons
in coal output for the same period, said Guo.
"The market situation shows coal supplies to date, especially for the
country's power generators, have seen a lot of improvement. The more
balanced supply and demand in the coal market is likely to result in
lower prices," Guo said.
According to statistics from the Shanxi Coal Industry Bureau, the average
coal price in major companies in the nation's largest coal-producing
province dropped 2.7 per cent to 292 yuan (36 USD) per ton in May
compared with the figure in April.
Furthermore, the country's tax policy change to encourage coal imports
while cutting exports has also enhanced the domestic coal supply.
China sold 36.4 million tons of coal overseas in the first half of the
year, a fall of 18 per cent year-on-year.
The government is introducing more market mechanisms to energy prices
such as coal and oil.

          ��China raises gasoline, diesel prices (2005-07-23)
          ��Prediction on China's coal reserves refuted (2005-07-22)
          ��China's coal shortage easing (2005-07-22)
          ��Oil supply shortage may be made up with coal (2005-05-26)
          ��China to face increasing coal shortage (2005-05-25)

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